- 6 years ago
- Wedding: December 2014
I need advice Bees! I’ll be attending medical school this coming year. I don’t want to throw money away for rent during my 4 years. Instead, I’d rather establish equity and own a home/condo/townhome. It’s the logical thing to do in my situation.
However, before I start my program, I need to buy the home because I can’t get a mortage without an income other than student loans (that I’m aware of). Does anyone know if that’s possible? My scholarships, loans, and grants will cover my living expenses during that time, which is 25,000 per year left over after tuition. It’s plenty, and I will not need to use all of that. The max amount I want to spend is $100,000. I’m very low-maintence, I just need a safe place and in good condition to where I can fix up a little and sell later on.
I make around 45,000 per year part-time, and I have good credit. Is it likely that I can get a home for 100k or less, with a downpayment of 10k? Unfortunately, I don’t have family that can help.
Has anyone done this during graduate school? Is it difficult? I’ll be in Portland, OR. I’m also worried about safety… I just hope there are places available that aren’t a total dump for 100k or less. Help!! Thank you very much! I’m only 21 and I need all the advice I can get!! Thank you again!