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Can an 18 year old who has never filed taxes get a 1st time buyer mortgage?

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September 16 2012 - Crofton
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Profile picture for sunnyview
Probably not. Most lenders will require that you have a credit score and tax returns. Talk to a local lender, but most require 2 years of tax returns.

If your finances are stable, it is smart to get all your financials in order before you start looking for a house so you can qualify for the lowest mortgage rate when you do decide to buy.
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September 17 2012
Using an FHA non-occupant co-borrower you may qualify as long as you have a good credit score.  The income, assets and credit of all borrower's are used to qualify.   These loans are often used when parents don't want their college students to waste money on rent while in school.

You sound like a go-getter,  

All the best in your search!   Maryland Mortgage Mama
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September 16 2012
Profile picture for wetdawgs
Do you have a good credit score (FICO)?   The credit score gives a snapshot of responsible (or not) use of credit.

Without tax returns, how do you intend to demonstrate that you have a history of sufficient income to pay the mortgage?

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September 16 2012
Buying is NEVER an emergency. Consider building an impeccable rental history, strong job history, spotless credit history (secured cards are fantastic for this), and saving up a down payment. Then home-ownership will be SWEET when it happens.
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September 16 2012
chances are you do not have the required lines of credit lenders often require.  Therefore it would be extremely difficult even without tax returns to  get a loan.  You may need to look at hard money lending which is extremely hard to get, large down payments required and high interest rate, short term financing.  
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September 16 2012
 
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