I would like to get a home loan with no credit or money?

Im 18 years old have no credit or money! I'm looking to buy a 12 bedroom old farm house. It needs some work but i can do that. I make $3000 plus a month. How can i go about to go and get a loan for this. I would have people staying in it until payed off in five years or less.I would like to get a home loan with no credit or money?
There is no way on Earth you'll get a loan without 20% down and a 700 credit score.I would like to get a home loan with no credit or money?
Unless someone gives you the money, this won't happen in the near future. To get a mortgage you need two years of reliable income (at least 3x the mortgage), a down payment of 3.5% for a single family non-rental home, but at least 20-30% down for a home you will use to generate income.



With $3000 a month, you could possibly get a mortgage of $100,000 after two years of steady employment. First - establish some credit!
You would have to have a co-borrower [';co-signer';], and a sizable down payment for any type of loan without a credit history. Most large banks and mortgage companies will not touch anyone without an established credit history.



If you can find a private lender or a small local bank or credit union that does manual underwriting [not based on computerized models - a person actually looks at the info and calculates your credit risk], they may give you a chance, but there are not many of these left around [I think they are also excluded from Fannie Mae %26amp; Freddie Mac because they don't use their underwriting guidelines].



You could also try looking for a place with owner financing or offering a ';land contract';, but be careful of the terms on them - you'll probably pay more and could end up forfeiting it all if you miss a payment.



Also, you probably know this already, but don't respond to any of the ';lenders'; that replied at the bottom of these posts - they are scams to get your bank info and steal your money.
The only way to get a loan is if you co-owned with someone who has established credit and a down payment. Sorry, but that's just how it is. You my be earning $3000/month right now, but without a moderate history of good repayments and demonstrated financial responsibility, no bank will finance you.



I suggest you talk to someone who may be willing to cosign while you go get a credit card and start building up your credit history.