Most realtors forget that there are economics at play with buying and selling a home. I have a good friend that is a numbers geek and a commercial broker. He looked at several homes a couple years ago when he graduated college to find that he could lease for less than what he would buy it for including a reasonable uplift over time for appreciate and equity he would not get as a renter. In his case his analysis as a real estate professional showed him that it didnâ€™t make sense to buy!
Now if your credit score is still low, you should consider working with a professional to get that number up. Find a solid realtor in your area and get them to connect you with a reputable mortgage professional and credit counselor. Low credit is sinister in that you will pay more for many things due to your credit score....car insurance, life insurance, fees to set up utilities, credit cards.....low credit will make you pay more and therefore save less.
Best of luck to you. If you liked my answer, give me the "Thumbs Up" and if you really liked it, reward me with calling me the "BEST ANSWER". I really appreciate it.
Chris Schilling, ABR, CRS, GRI, GREEN
It's time to fix that. Start with a budget. Dave Ramsey has made a fortune helping people get out of debt, pay on time and get ahead financially. 30 years is almost long enough, if you start today. It won't get fixed overnight but depending on how bad things are right now you can repair your credit, save some money and buy a home.