Ive got tired of the whole rent thing. Im not sure if i could lease on my own right now. My credits ok but i just dont show enough hours from my part time job( ive got gigs on side thatll pay 300weekend). But i got a couple friends who need a place as well. Im doubting 3 people on a lease would help tip the odds though. So what do you guys think would work? I had a thought of splitting the total cost and us each getting seperate loans for that amount but not sure if that could work all that well either.

lease and rent are the same thing.



if you are talking about purchasing a house, you won't get 3 separate loans on one house under 3 separate names.

yeah i was a little drunk when i typed that. I meant all 3 of us go on one loan. The other way i was saying get personal loans.

If you don't have the credit to get a mortgage, which is a secured laon, there's no way in hell you are going to get a personal loan, which is unsecured.

dont buy a house with 3 people



the only possible way you could get a loan for a house in your situation is to come up with a large downpayment, probably over 40-50%

even at that amount.... doubt you can even qualify with one havin a part time job..

you put 50% down and they dont care, at least when you default they own enough of the house.



You would still need a person who can work the system, a regular bank would laugh you out the door.

Also there's a ******* shitload of expenses that go along with owning a home as opposed to renting an apartment. ex. a $1500 a month apt prolly equals an $800 a month mortgage.

Actually at 35% you could proly do a stated income loan and get away with it.

and some points, you know they are going to charge you some points



you will also be paying very high interest, stated income no doc loans are very high interest

you could refinance after a year though and lower the interest alot.