Yes, you should be able to be pre-approved for a loan and depending on which areas you are looking at, you may be able to afford a condo or a smaller home/fixer.
Have you spoken with a lender (bank/credit union/mortgage broker) to get pre-approved? If you would like, I would be happy to recommend a few lenders to you.
Feel free to contact me directly with any further questions/concerns about the home buying process and I would also be happy to forward you a list of available properties that fit your budget and search criteria via email for you to take a look at. We can arrange showings for any properties you are interested in.
I would be happy to help guide you through the process and in your home search.
Nancy J. Anderson
We can do: FHA, Conventional, USDA, VA, HARP, Interest Only, Home Equity, Fixed, and Variable. Find out which product is right for you by calling Brad at (855) 415-5626.
Sr. Loan Officer
Crosscountry Mortgage Inc.
Toll Free: (855) 415-5626 ext. 5734
For FHA, you need 3.5% down payment with FICO as low as 600. For your FICO of 805, you can go with conventional loans with 5% down. We do have some lenders that may accept 3% down. Your down payment can also come in as gifts from relatives.
In short, you can buy a house with 20K fund. It all depends on the area/price of the subject property. If you need more details regarding your qualifcations, we can help.
Talk to you soon
Ingrid Ski Realtor