Can I buy a house at 18 with no credit?

Question

I am 18 and about to go to college. I was maybe thinking about buying a foreclosed house its 50k. Problem is I have had no debt and dont think I could get a loan due to not having a huge down payment. I also want this motorcycle thats 2k. Should I buy the bike then make payments to build my credit?

FattyMcB · Answer

Why would you want a house at 18?  You are way too young.  The motorcycle is a much better idea.

chatsplas · Answer

Why would anyone give a young student tons of money to buy anything?
No credit, no debt yet (but you&#x27;re rushing to get some), no visible means of support, no job, no income, no.........
To get loan, lender needs confidence, strong probability of getting back ALL its money plus lots of interest
A bike is a drain, not an investment, but now is good time to own one, and could help build credit rating--always wear a helmet, don&#x27;t become an organ donor

Anonymous · Answer

I would buy the motorcycle, dont buy a house yet that&#x27;s a big responsibility and plus you have no money, focus on your education first and getting a job

Anonymous · Answer

you wont get the house with no credit/job. go with the bike. foreclosed houses that cheap have problems anyway

Slickterp · Answer

Of course not.

Anonymous · Answer

You will pay it in cash http://instantonlinejobfinder.blogspot.com/

Landlord · Answer

Only if you pay cash.

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Can I buy a house at 18 with no credit?

7 Answers