How the F did you pay 60K at ATP? Those guys are supposed to be the cheapest around. And you mention you've got no college? How did ATP accept you? You need college over there. As far as your question, you're going to have to live in poverty for years untill you've got credit and are able to buy property and are able to pay-off your loan. If you don't do that then you could be paying 10-15 years, and that 60K is going to turn into 90K after you're done paying. Doesn't look like you got great advice from your parents or friends. Never ever use the bank for this type of loan. People usually save money or borrow from friends maybe a few thousand from the bank but not straight 60k from the bank, what was the matter with you? And you're asking this question to us now? I agree with crewdawg52.