There are lenders that can help you get that FHA loan but if you want to keep your payment close to what you are paying in rent, your purchasing power will be severely hampered by the mortgage insurance that you will have to pay.
$73k is not a bad wage (many families work with less) and you really have very little excuse to have such a low credit score (the kids are never to blame in this situation but the adult is).
You need to sit down (with a professional if need be) and take control of your finances and your life. Start by pulling your credit report and make sure that there are no mistakes (a ridiculously high number of credit reports have them), gather all your bills, take a realistic look at your needs and your wants and make some cuts then make a budget and stick with it. In addition to getting rid of debt, an important part of your budget should also include a percentage that is put into a retirement account (especially since most employers have a matching program that is like getting free money).
It may not be painless but in less than a year you should see an improvement in your score.
You should consult with a Real Estate Attorney and have him or her review the listing agreement. Not all agreements are created equal and it may be possible a commission would not be owed if you purchased the property from your parents. Again, however, you should speak with a licensed attorney specializing in real estate.... more
A FHAhome inspector has an obligation to inform his customer, the potential buyer, everything about the condition of the home, from simple things like ripped carpet or leaky faucets to major roofing or plumbing issues. Just because minor issues may not affect the safety of a home it does not mean they are not costly to repair. A potential buyer could find out from an inspection report that the home is not in the condition she believed it was in, and she may change her mind about continuing with the purchase. For this reason, many home purchase contracts contain special language that makes the contract contingent on the findings of a home inspection and allow for negotiation of repair costs or purchase price.
Click here for more information:http://fhamortgageinfo.com/home-inspection/... more
If you qualify for a VA loan you can buy with no money down and roll most of your out-of-pocket costs into the loan. Otherwise, keep saving and work your way up to 20-30% of the price of the home. Best of luck...... more
It typically starts with referrals. Ask friends or family about anyone they know and trust. If you can't get any names that way, resources online like trulia can show reviews on agents in your area. Find a few agents and give them a call. No harm or problems with interviewing them to get to know them a little bit.
I'm sure you would be able to take out a loan as long as your credit is good. You should talk to your bank about this. It's probably a good idea to do this soon and get it figured out. http://www.angleridgeremodeling.com... more