I want to own my own home, but make minimum wage how do I do it?

I make minimum wage (6.58/hr) but i wan to get out of my apartment. I want to own a home so I never have to move again, but I really don't want to borrow money. Or loans. I will if I have to. Can someone help?

I am sorry to say that there is no answer except make more money. There are loan officers who will try to sell you on the idea that you can own your own home and they are right. They will not tell you, however, that with your income, you may not be able to keep it.

Go to school, be aggressive at your job, read books on your own, take courses to improve your occupational skills. It will lead to more money which is basically the only way you will ever be able to afford your own home and be able to make the payments to keep it. I was sick of eating peanut butter and jelly sandwiches, but that's how I saved a lot of money on food. The funny thing is, I still like eating pbj. Understand?

The only way to own a home on that wage without borrowing money is to win the lottery.

You'll need a loan to buy a home, unless you've saved the full amount needed, and that will take a long time at your wage. I don't know what home prices are in your area, but any mortgage lender can figure out for you how much you can currently afford, and also how much money you'll need to be making to be able to buy what you want to buy.

See a lender today, and put that goal in place. That's the best way to eventually get there, is to have a goal.

Best of luck to you.

The math has to work - you have to ask yourself who would loan you money when you cant prove that you can repay, isnt that what caused the mortgage crises?

Your only chance is to partner with others to buy a home. You might have skills that can be traded for a percentage ownership.
Especially, plumbing or electrical.

The only way to buy a home is to get a mortgage, which is basically a loan.

Realistically, it's not going to happen on minimum wage. They say you can borrow about 3-4 times what you make, which is about $36,000 to $50,000. You are going to need exceptional credit to get a home with no money down. You are going to have to live in a very cheap part of the country to find a home in this price range.

What you need to do is figure out how to earn more money. Either get a better job, or get some qualifications to help you earn more.

You can own your own home if you save and maybe get a part time job to add to that. It would be best for you to have a down payment. You'll also need earnest money to go with your offer. Depending on where you live you can get a small starter home for not too much. Here in Tennessee you could get a home for $86,000 and your monthly mortgage would be $600 or so which is less than rent for many apartments. In most other places you may not be able to afford a home for a while. You can get a lease to own home too but you will have to be religious about your monthly payments. Make sure you do your homework before you enter into any of these programs. There are first time home buyer programs that you would qualify for. You are a working person who wants to own a home. All you have to do is make sure you can afford the payments (and taxes and upkeep). You already know how much rent you can afford. You should use that as a guide for how high your mortgage can be. The mortgage crisis means that you should be able to afford the home you buy.

marry someone that makes more money.

Minimum wage provides a lifestyle that is at the poverty level. I'm sure you know that.

taxes, insurance, interest, and principal is much more expensive than renting. That's just the way it is.

Why do people buy?? to get ahead. create equity and watch the monthly payment go down in relation to inflation and raising rents.