buying a house

[priya.manju6]

I am an 18 year old and I have little or no experience in buying and selling too many houses, I would like to know how I can go about it. I would like to know about how mortgages work and how I can go about buying my first house to prepare for my future. Any suggestion and information is welcome! :)

[kumar.deepam6]

wow!!!! at 18 and you're already planning on your future! i just cant resist replying to your post. i hope this is useful. You are at a fabulous age to consider investing. Mortgage companies would just love you for your age. You can approach almost any mortgage company and watch their doors come flying open for you. But first things first! :) You will first need a good investment strategy before you plan on investing. Watch the market. Read the news and get to know what the need for the moment is. Once you have that finalized you shouldn't have any trouble with finding other guidance in terms of processing.
Good Luck!
Kumar

[samprime]

A mortgage is simply a secured loan that enables you buy an asset which is permanent in that it cannot be moved from one place to the other. For a loan to be secured, it means that you need to supply the bank with a form of a security which can be used to repay the loan in case you are unable to clear it. A salary is the most common form of security. This will be easy for you considering your tender age.