Erm, at what age or stage in life does one normally buy a home? In their 20s, 30s?
Lets say I wanted to buy my own home by.. age of 27. What do I need to do in order to reach that goal? I mean in terms of building credit? If I owe money now and it will take me a while (maybe a year or so) to pay it all off, would that really ruin any credit that I acquire then or will get in the future? What other things are involved in buying a house? All i’ve read lately is that housing is becoming more and more expensive, with 40 and 50 year mortgages (used to be 20 or 30 years)..So is it really possible for an average person (not a financial whiz or someone with a really super high paying job) to buy their own home before age 30?
Re: Buying a home..
I bought my first place at 27! I'm not sure how old you are, but you should consider building your credit history. This will show your financial institute that you're good at repaying your debts. If you owe money, and have it paid off by next year, then your credit would be fine, as long as you make your payments on time (or have the debt paid off in time). You should consider putting some cash aside every month to apply as a downpayment. The better your credit, the lower your debt, the larger your downpayment, all provide you with the possiblity of a lower interest rate.
It's always a good idea to ask your banker or a mortgage broker, they usually have all the answers.
Good Luck!
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Uncle I just turned 21.. still have a few years to go before I actually get a bachelors (in English.. 
). I’ve nevre had a credit card and to be honest i’m scared shtless of having one coz I know even though its ultra easy to get into debt, I’ll still just go shopping 
So i stay away frm these things.. but I know to build credit and buy a home or car, credit cards are necessary.. :halo: And oh yeah I dont have a job.. so dunno how that’ll work out..
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Aye Khudaa! Mujh ko itnaa tau Mo’tabir kardaY
MaiN jiss makaan maiN rehtaa hooN, uss ko ghar kardaY
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I wonder if my future hubby will wanna move into the house that I buy.. 
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Amreeka maiN banaya banaayaa makaan milnaa koi maamooli baat naheeN 
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We bought our first place at the end of last year, I was 25, my husband 26, and we had been married for almost a year. It was a good time because we felt ready to settle in the area (minutes from my parents and from his as well, and close to work). It's also a nice area with rising property prices, and we wanted to avoid paying rent for any longer.
As far as having debt, it's okay, as long as you make regular and responsible payments. These will allow you to build a credit history, which is almost always necessary for getting approval for a mortgage. Also, why not pay a certain amount a month for your mortgage? You'll do the same if you rent, and with a mortgage at least you're getting something you own.
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I’m sure your hubby would be proud to move into your house…
Not sure how it works in the states, but in Canada, we’re able to get credit cards as students in university or college. I used to use my credit card and pay it off right away, just to establish my credit. If you feel more comfortable with not getting credit until you graduate, then wait until you get your first job. This will allow you to establish credit, save money, and build job stability.
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Uncle G 
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Kya hoonh ??
Uncle, I think it’s the same here.. but lotsa ppl here are very much in debt coz of creditcards, and also not many college students know very well how to use them, noone tells them, esp not the credit card companies.. they dont care, they just want ur money.. a CC in my hands will be lethal
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Sara, you have to start building your credit first. Have a visa card from the bank you have an account with. If you don't have an account yet, get on your parents account and have a card in your name. After a while you should be able to get a visa card totally in your own name. You don't really need a job, though it helps. But have some bills in your name that you make regular payments, like cell-phone bills etc. This is beginning of developing some credit.
You can go to Freecreditreport.com and read the issues involved in developing a credit history or what hurts it. One thing for sure, pls. don't have too many credit cards, visa or major departmental credit cards. If you do have about 3-4 store cards, keep the credit limit to a basic minimum, $100-250 limit. It's very tempting and they all offer great benefits/discounts but it won't help you in the long run. Cuz if you happen to have abt 10 store cards and all of them have given you a $1000 credit limit, that means $10,000 can be considered as loan/debt by the creditors.
Don't open too many store/credit cards too quick. everytime you apply for a credit card, your credit report is pulled up and it takes some points down, though you recover later but it takes time.
If you have a credit card, keep using it from time to time, at least once every six months. Credit cards which are unused don't reflect good on ur credit history.
Don't ever go to the minimum payment option of the credit card, major visa card or small store cards. That's a Pandora box. You end up accummulating lots of interest and finance charges, since lot of these store cards have a very high interest rate of 20-30%. If you do have a store card, pay your balance in full. Besides you may end up shopping a lot on ur cards, if you know that you don't have to pay all the balance but only $10 per month. However, when you reach the maximum credit limit, you can get into huge debt. If you miss on 1-2 payments, these creditors give your information to Collection Agency and that can ruin your credit big time.
Keep checking your credit history regularly, since Identity theft is such a common problem in US, SSN being the main instrument behind everything.
I can explain you more in detail if you like, when we meet, inshaAllah.
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i want a house too...by age 25...not 27
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Sara, my neighbor got married 2 years back and unfortunately it didn’t work out and they are getting divorced. In many states, the property gets divided into husband and wife equally, with few exceptions. A lot of Amriki ppl get a pre-nup signed that if God forbid it din’t work out the hubby or wife wud not have any claim on the house, or otherwise, the person who owns the house looses it too. It gets sold and divided into two. That’s what she did, a pre-nup that he wudn’t have any claim on the house, but boy’s parents are taking her to court to get the half of the house and half of all inside the house too.
May Allah give you a long happy marriage. You may wana consider some legal cushion before adding his name to the house if you do have your own.
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personally... i stay away from plastic
but building a credit history sounds like a good option
or you could always do a Xara and just marry a man with a house in tow ;)
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^^
Easy way out 
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kya haal hei qureshi saab?
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but building a credit history sounds like a good option
or you could always do a Xara and just marry a man with a house in tow ;)
Er.. no :p
When I was 16 I had a very definite idea of what I wanted out of life.
When I was 18-19, my views changed, they were the total opposite.
Now (at 21) im starting to get an idea of what I want, and marrying a guy for his house isn't included :p
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I would rather only marry a girl who has her own house- so I am not thinking anything right now..
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Hmmm… what kind of advice is that? That you have a credit limit in your name doesn’t mean that is considered loan/debt by the creditor, unless, ofcourse, the creditor is a complete idiot. HAving too many credit cards is not recommended because then people have a temptation to rack up balances on them, which create credit rating problems, however, if you don’t have outstanding debt on your credit cards, it generally improves your actual debt to available credit ratio. Rest of the stuff you said is correct.
Sara, the time to buy a house is when you can afford the mortgage and have a reasonable expectation to stay in that place for some time. Simple as that. All your fantastic credit history is meaningless if you can’t afford the mortgage, so please focus on your education and your future income. That will drive the whole thing. Alternatively marry a rich guy who already has a house and save yourself from the hassle.
Cheers!
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Will yall stop telling me to marry a rich guy :p
faisal, I thought creidt history was important because from what I've seen (in others) the worse the credit history, the higher hte montly mortgage payments would be..