How Young is Too Young for a Mortgage?


How do I get a mortgage at a young age?

People buy houses at eighteen, nineteen. I bought my first house at nineteen. So, if you have a decent credit score and a little bit of money down, for the down payment, there’s no age discrimination in mortgages.  The big thing is credit.

If you don’t have any credit you’re going to struggle to get a house. But, if you’ve got established credit and a good credit score, and you have a stable job- and again, a lot of people in their early 20’s have stable jobs, have great credit scores, and have money to put down- so there’s really nothing that’s going to stop them from buying a house.

That’s really the key.

It’s self-limiting belief. You believe that it’s this big obstacle, this big hurdle. But at the same time, it’s a huge accomplishment. And, one of the reasons I think we are afraid of it is because we recognize what a big accomplishment being a homeowner is, and it’s this self-doubt of “I’m too young to be a homeowner” or, “I’m not ready or stable enough.”

You have to tear all of that down. You’ve got to get out there and do it. That’s it. One of the tough things is a lot of young people saw their parents get hurt by the housing crisis. It was a terrible event. A lot of my rules are there to protect people from repeats of that. If you make good decisions and buy a house you can afford, you can stay out of that kind of trouble.