All depends on the scheduled repayment of the student loans. For FHA purchase you can put as little as 3.5% down and need a middle credit score of at least 620. Drop me a note or give me a call with any questions. I'm located in Indianapolis and sure I can help.

At your service,
Tony

Dave Woodson is an excellent Mortgage Broker as well and there are many options out there. The only reason I mentioned keeping business local is because of all of these Internet based companies that are giving people pre-approval letters to print out from home and by the time you pick out a house the money isn't there. In no way did I mean to step on the toes of all the hard working Loan Officers, Mortgage Brokers, or Lenders out there.

Whom ever you choose as your lender we'll just want to make sure that when we need them the most, they'll be there and I believe that if you chose Dave as your Mortgage Broker he would be there.

If you are thinking about buying in the Terre Haute area we should sit down and talk. I am a big believer in keeping business local. I'd like to introduce you to a couple Loan Officers who will be able to lock down what type of loan would best suit you and your needs. You can then choose which one you would like to work with.

After that we can set up some days of Buyer's Tours. We can visit several homes, all of which , where I show you homes that meet your criteria. Just give me a call this week and I'll start working for you.

Erik Armstrong
Century 21, REALTOR
812-841-8312

I am a loan specialist and I can help. Your future earning bear little on what you can afford now. The future is not guaranteed to anyone. You can get more information on my blog @ http://www.madmortgagemachine.com or you can call me @ (219)872-8000.

Dave Woodson
The Indiana FHA Expert

There are a lot of factors that go into determining how much (what price) house you can buy: income, debt, credit scores, job history, etc.

With some quick calculations, based on 6% interest your house payment would be around $675 plus taxes and insurance which can add $100-$200 a month to the total payment. Lenders will look at your other monthly payments - student loans, credit cards, car loans, etc. and determine your debt to income ratio.

To my "non-lender" eye and based only on the house payment, buying a $125,000 dollar home might put you into a house poor situation. Your best bet is to contact a local lender and give them all the details about your financial situation. They can check your credit, look at all your payment info and give you an idea of what price home you can afford.

I hope this helps!

Betty

Maybe,

Contact a loan specialist to see if you qualify for a loan and what programs may best meet your needs.
In the meantime develop a budget that accounts for your total monthly earnings and expendatures. This will be helpful in making your final determination.

Good luck