How to Buy a Condo

Firstly she needs to get a good credit rating, and that can be achieved in many ways. A credit card with a very low limit, and she buys her things with it. Many years ago a friend told me that she got her first ever credit card, so each week when she got paid she would do her shopping as normal but use her credit card. Then is she spend $58 on the groceries, she would immediately go to the bank and pay that amount off. LOL Also here in Australia we can buy things on lay-by, i.e. put down a deposit on an item and then pay so much of a week or fortnight till it is paid. The time is usually 3-6 months, but it also established a credit report. Those small things all add up and show that she has a credit rating, which is essential if she is going to obtain a loan for the condo. Nest thing is she needs to know the area where she is planning to buy the condo, i.e. is it a good area and what are resale prices like etc. What extra expenses are there, i.e. maintenance changes etc.

That's tough. She needs to build up her credit. She needs to get a charge card, even at high interest, and charge something for $5. a month and pay it on time. That builds credit.

Well, what I have learned over time, is is a person stable, and what type of Job, etc. do they have to allow them to be Credit worthy if a place does extend the Credit to them to get the place they are wanting? I feel especially in a purchase such as this, it is best if they know what will be involved in the deal, and are they ready to accept that challenge. Loosing a house is a great way to ruin your Credit forever, so you need to be prepared and ready to accept the challenges that come before you once accepted for a place of your own.

Money is everything. If she has enough money to put down on the condo then she is not going to need a co-signer. what she needs to do it get her a credit card, a cell phone, something like that. even if she gets a card with a $200 limit and pay it on time that is all she needs. being that she is not looking to buy now, she has time to start establishing her credit. what is most important is that if she is looking to buy, she does her research. and she should go to seminars also. i advice doing these things for at least 6 months before she starts looking. it is very important to know what you are getting into. i worked for a mortgage bank for many years. research, money, and who you know is the key.