The first place to start is getting your credit report from the top three agencies. You are allowed to get a free credit report every 12 months. Do a thorough job of looking at the reports. If there are any discrepancies get them fixed. This is not an overnight process, so do not procrastinate. Also start saving any extra money right now. This will help you for your down payment which can help increase the amount of the loan you are eligible for. Not to mention start a trend of saving that lenders can verify. It can also help keep the interest rate down on the loan. I would also suggest starting to make constant monthly payments on any debts you have and trying to decrease your debt total. These two things can affect your credit score by 60 percent. Sometimes this process is slow moving but you have to think of the end result. Even if it takes a year to get your finances in order you will be working to better your chances, rates, and loan amount.
You can also go to a lender and they can let you know what is available at this time. They can also let you know what needs to happen for you to get a loan. Take a copy of your credit reports with you so the lender can give you better idea of what needs to happen.
The biggest thing is don't get frustrated. It can happen and you can do it. There are just some steps you need to do first. Please let me know if I can help. I know some great lenders that I work with who should be able to get you on the right track to homeownership.
If you want more info email me, I will forward you the information.
Pam Bava, Realtor