LMD514,

I am glad I am Here! I think speaking with Bob or a local mortgage broker would be a great start. There are so many programs out there, Bob or a lender of your choice can help find what works and whats most comfortable for you.

Once you have met with a lender, I would partner with a real estate professional to ensure you will get the best home for your money. As a Realtor I love working hard to find my clients the right home, and tI love the thrill of negotiating on your behalf to make sure the transaction runs smoothly.

Most Agents on here would recommend speaking with 2 or 3 agents before choosing one that you can relate too and trust. If you have bought or sold a home before you have a good idea of what to ask. However today's market is soooo different, there may be some things you may not know. Drop me an email or a call and I can send a list of valid questions you should ask.

The Best part about partnering with a Buyers agent, you don't have to pay us. So you get all of our hard work, knowledge, skills, tools and resources at no charge!

Best Wishes

Jeremy


"If I had six hours to chop down a tree, I'd spend the first four hours sharpening the axe"~ Abraham Lincoln

http://www.google.com/profiles/myhomemichigan

good morning........with a bit more infromation about your situation, i would be happy to recommend some options to you.....best regards.bob mcclure- successs mortgage partners- plymouth, michigan.....

First step is simple..find an mortgage person who can pull your credit, run you thru underwriting and see where you're at. Then once you know if you don't qualify and why, work on those things. From your description, doing what you can to increase credit score (pay on time, pay off what you can, contest things that are wrong on credit report, etc) and obviously the more income you can show the better off you'll be.

You need to get a stable work and home situation and to improve your credit. Right now, as you probably know (from the things you listed), you'd look very "weak" to any lender or seller. Weak credit, variable income, tight income.

Ideally, conserve your funds for a few years. Work on improving your credit. Your husband should find a full-time job, and maybe a part-time one to supplement it. Once you have your second child, then figure out some sort of arrangement to handle the children and to earn an income. Maybe, for instance, a babysitting coop, or shared baby sitting with someone nearby. Or have a relative babysit. Then you find at least a part-time job. And educate yourself about finances; there are plenty of no-cost and low-cost courses out there.

Then, one way to to purchase is by doing a lease-option. Some others here on Trulia don't like lease options, and admittedly they're not for everyone. A major drawback is that many lease-options don't result in purchases. But that's not always bad; the buyer may decide that the property isn't for them. Still, basically, you get an option to purchase a home at a locked-in price at a monthly cost equivalent to rent, with some of your monthly payment being credited toward the purchase price.

Another option is to consider manufactured housing. Where I live, a 2 bed/1 bath condo costs maybe $150,000 while a 2/1 manufactured home costs $16,000. A 3/2 single-family home costs $300,000-$400,000 while a 3/2 manufactured home costs $35,000.

As for "good" school districts: Don't get too hung up on that. Much of what kids learn--educationally and otherwise--come from the influence of their parents. They're around you far more than they're at school. Read to them. Play with them. And teach by example. Associate with others outside of school--church, clubs, relatives. That'll have more influence on your kids than the school district alone.

Hope that helps.

I'd say there are options but it could take some time to get you back on track. Sometimes a good place to start is to educate yourselves and set your goals.

Some non-profits offer assistance in preparing to purchase a home. Check out the programs at the Inner City Christian Federation, most are low or no cost and childcare is available on site while you attend the class http://www.iccf.org/programs/

Best to you~