The good news is you have practically 8 month's to budget for a down payment. Use the time now to speak with a loan officer about getting a pre-approval, so they can tell you a ball park figure to shoot for. Find out what the MOST is you can save per month, and then you will be able to determine how many month's it will take before you can buy a home.
That will help the rental situation, and a Realtor will help review the market with you to find the best location to do the home search.
I am not sure what you mean either by a "deal". You need a down payment regardless, and a cheaper home does not necessarily mean a better deal. Unless you are someone who does not mind fixer uppers (and yes they require more than carpet and paint) It really just comes down to what you can afford.
Regardless, the take home message is that now should be the time you plan. That will allow you to prepare for the future and hopefully be ready in June. I would love the opportunity to speak more with you on this being a St. Paul guy myself. Feel free to contact me anytime.
Realtor St. Paul
Because once you are approved you make the call whether or not to pull the trigger on a home you like. You can look until "the one" comes along.
Hopefully you are in a month to month lease?
Lets talk about the process sometime! Cody@MetropolitanHomeTeam.com
You dont have to have big down payment for purchase house. depending state you can put as little as 1/2 % down , standard fha 3.5 % down and conventional 5 % down, check with your local Mortgage broker for more information on lowest down payment program.
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