I need advice

mfaisalnadeem · Joined: 19 Nov 2008 Posts: 3 1.86 Dollars($)

I am special case. I am 28 male asian. I am living in LA and on J-1 visa and have SSN. I have no credit history. I want to lease a house the installments of whom should end by 5 years. I am trying to build credit history. I need a cheap one bedroom house. I can pay up to 1100 per month as installment. Can anyone have way for me?

adonis · Posted: Wed Nov 19, 2008 9:24 pm Post subject:

Welcome Mfaisalnadeem,

It's good that you're trying to build credit from the scratch. But I'm afraid this community will not be able to help you get a house on lease. This is because it's a mortgage community offering loan advice and help.

mfaisalnadeem · Joined: 19 Nov 2008 Posts: 3 1.86 Dollars($)

Consider same situation and I need mortgage loan.

Guest

So, are you looking for mortgage on a property which you would later on rent out?

mfaisalnadeem · Joined: 19 Nov 2008 Posts: 3 1.86 Dollars($)

I want a property on which I may be paying mortgage every month and the term should end by 5 years and then I should be able to sale it out and leave to my own country. I have no credit history so I dont know I can get a mortgage loan from a bank or is there any alternative way?

jerry · Posted: Fri Nov 21, 2008 3:15 am Post subject:

Hi mfaisalnadeem!

As you do not have a credit history it will be difficult for you to get a property on which you can be able to pay a mortgage or sell it after 5 years. There are few steps which you can take to build your credit in a short span of time.
You should pay all your bills on time.
You should apply for credit cards judiciously and restrict the number of credit cards you have and use them responsibly.
Restrict yourself so that you can stay within the credit limits that have been set for you.

Thanks,

Jerry[/list]

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