I buy houses, 405-881-5958
3 ways I buy houses (5 minute video) http://www.youtube.com/watch?v=644bDNfFrkM
Let me know if I can point you toward some Lenders, that can help you, too. Anything else you need, please don't hesitate to ask.
All the answers you've received so far are basically correct. There are many factors that need to be taken into account before your question can fully be answered. But the first thing you need to do is talk to a lender. Only a lender can give you the answer you need. If you do not have a lender that you feel comfortable with, please contact me and I will be happy to refer you to a professional who will work with you.