2. Don't spend. Don't eat at restaurants or buy coffee. Cook for yourself and brew coffee at home. Stop smoking. You don't need new shoes every week or beer and cocaine every weekend. Quit all your vices where money is involved.
3. Work as a server at a restaurant/bar or some other high paying job. I was making $150-$400+ in a 6 hour shift just in tips when I worked at a pub. Put all that skrill in a box or savings account. Resist the urge to spend. Review step 2.
4. Keep your eyes on the prize. Set monthly savings goals for yourself. Set an 'end goal.'
5. In a year or 2 you will be amazed at how much $$$ you have and all the opportunities you have to choose from now. Life is good.
Right now the market for buyers is very competitive and it helps to work with local loan brokers who know and are well known in the community. I work mostly in the Berkeley Area and am happy to share a list of loan brokers with you. Contact Laura@margulius.com
Step #1 is for you to obtain a "True Pre-Approval" (your most important step in my opinion).
You may need to improve your credit score, increase cash reserves, etc. before buying; however, at least you will have a roadmap to eventually purchasing if this is the case. Furthermore, this step can save you from wasting money on a purchase that does not close escrow!
If you can afford 5% down or the condo is not FHA approved ---You can look at a conventional option.
Also, check out http://www.homepath.com and search homes there. These homes qualify for a Fannie Mae mortgage with no mortgage insurance and you can put down as little as 3%.
If you want more information...Do not hesitate to reach out!
Home Mortgage Consultant
(415) 271-7740 direct/cell