is buying a house worth the hassle?

[Bender]

a thread asking for advice, but no b2b post yet...

[boutons_deux]

no job?
no IRS returns last two years?
don't have 3+ active lines of credit with almost perfect credit score?
have you paid off a car or other large item, with proof?

Banks are amassing capital rather than lending at these low rates, while hiking fees everywhere to suck our pockets dry, just because they can.

[Drachen]

It looks like you are going to have to go FHA because of your lack of job history. It's not bad, my mortgage is currently FHA, you get slightly (very slightly) higher mortgage rates than the market, and your mortgage insurance works a little differently, but it is a good option to go with if you have a less than perfect mortgage profile (which you do). You can then refi to a conventional loan later if you find the opportunity to do so. Buying a house is pretty cool. I have learned a lot because of the maintenance. I have tiled floors, redone cabinets, redone landscaping, etc. it is still a work in progress and I have about 5 projects at any given time. I like this because even though I didn't know how to do these things before, I just teach myself as I go along and when I am finished, it gives me a very real sense of accomplishment especially because I know that I just added to the value of my house. It would be even easier to do this for you since you don't have a family. I guess it all just depends on the type of person.

[CubanMustGo]

If you (the OP) are lucky enough to get financing, be sure that you get a GOOD inspector to give the house a once-over before you buy it. If you buy new, do NOT use an inspector provided by the builder, they will overlook all kinds of and unless you know what is going on you'll be the one left footing the bill down the road.

Boutons is right, a bank won't touch you. It took over six months for a friend of mine to get a refi done with Chase, even though he had excellent income, ratios, credit etc ... and HE WORKS FOR CHASE. It took me a couple of weeks through my credit union.

[BacktoBasics]

no job?
no IRS returns last two years?
don't have 3+ active lines of credit with almost perfect credit score?
have you paid off a car or other large item, with proof?

Banks are amassing capital rather than lending at these low rates, while hiking fees everywhere to suck our pockets dry, just because they can.

This is pretty much spot on. You need a minimum two years on the job before they'll even consider it.

How many more threads is this guy going to make?