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Old 05-15-2007, 01:10 PM
 
19 posts, read 75,514 times
Reputation: 18

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hey there...I am looking to move down to Charlotte in about 2 years when im done with school. I was looking at my credit, and it is about average(605 right now), but I also dont have much credit built up because im only 21 years old. Is that credit score good enough to buy a home? or a condo? We will be making about 75-80K a year, and are looking for a condo around 100K. I know I have time to build up my credit before then, but I was just trying to get some ideas. Thanks!

Kyle
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Old 05-15-2007, 01:15 PM
 
73 posts, read 62,597 times
Reputation: 36
If your family income is $75k or $80k you should be able to easily mortgage $100k regardless of your credit score. The real question is what kind of place are you expecting to buy for only $100k?
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Old 05-15-2007, 01:21 PM
 
19 posts, read 75,514 times
Reputation: 18
Im only looking to get a 2 bed/2bath condo to start with, so I can save money, then move into a bigger house a few years later.
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Old 05-15-2007, 01:28 PM
 
Location: Indian Trail
87 posts, read 259,798 times
Reputation: 36
You will still be hard pressed to find something for $100k in the Charlotte market, that isn't in a "not so nice" part of town. I urge you use a real estate agent and make sure you get pre-approved before even starting the search.
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Old 05-15-2007, 01:36 PM
 
Location: Cornelius
2,314 posts, read 2,119,979 times
Reputation: 287
before you do anything I would just call your bank or even go by there and see what the mortgage guy/gal in there says. This should answer about 90% of you questions.
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Old 05-15-2007, 01:46 PM
 
19 posts, read 75,514 times
Reputation: 18
ok, thanks a lot. I was just basing the price of condominiums off of realtor.com. They had a lot of nice condos from 55-100K. What are the bad areas?
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Old 05-15-2007, 01:47 PM
 
Location: Cornelius
2,314 posts, read 2,119,979 times
Reputation: 287
Well in two years it may have shifted. That price range is not going to be the safest.
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Old 05-15-2007, 02:22 PM
 
19 posts, read 75,514 times
Reputation: 18
okay. I just talked to a real estate agent and he told me south-southwest charlotte is really up and coming, and a very safe area. he said anywhere in the 100-140K range will be good for a condo.
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Old 05-15-2007, 02:23 PM
 
Location: Cornelius
2,314 posts, read 2,119,979 times
Reputation: 287
alot can change in two years
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Old 05-15-2007, 03:08 PM
 
525 posts, read 1,645,440 times
Reputation: 126
Yes and Charlotte is moving! To bring up your score, get a copy of your credit report, get a credit card and pay it off each month...you will need credit your whole life.
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