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So before you ask me how much crack I've been smoking I want to start off by saying when my father dies I would be inheriting a house worth $500,000 to $750,000. My dad isn't that old (62 to be exact) but he is kind of a drama queen so he's always telling me to prepare. I want the loan so i can convert my home into a Bed and Breakfast. I'm currently working on my degree in hospitality and as of today I make about $20,000 a year. I know its not much but hopefully I'll be making a little more after a get my bachelors.
I know getting a loan for half a million dollars i probably very very small but i figure aim high considering how much my collateral is worth while factoring in how much I can save until I inherent the property.
What are the odds?
How much do you think I would get realistically?
BTW: My credit is pretty good.
Thanks for your answers and GOOD DAY!!!!!!!!!!!!
I know getting a loan for half a million dollars i probably very very small but i figure aim high considering how much my collateral is worth while factoring in how much I can save until I inherent the property.
What are the odds?
How much do you think I would get realistically?
BTW: My credit is pretty good.
Thanks for your answers and GOOD DAY!!!!!!!!!!!!
Can a 21 year old get a $500,000 business loan?
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