The most important thing to do is talk with a lender, be it your bank, or a mortgage broker. They will take into account income, debt, and credit scores. They may require you provide them with the last three bank statments, last two years, tax returns, and a month's worth of W2's. Once you call them, they may intially ask for your social security and run your credit. Please keep in mind that you may quailify for more than you are willing to pay, so it is always a good idea to let your lender know what you are comfortable paying per month so that you are not in over your head. Once you have been qualified or approved, which is always better, you will have an idea of what price range you should stay in to meet your financial needs. Be careful not to give anyone any money until you are certain they will put your interest first!
I've already dropped you an e-mail, but just as a suggestion you may want to delete your original question and remove your e-mail address. Just as a precaution for your privacy. Any one here that responds you can e-mail them directly if you like what they have to say.
In regards to the property that you selected, unfortunately that property is already under contract and soon to close. Usually at that low of price, unless it's a complete loss those properties will go fairly quick as this one went under contract in under 10 days. There are some really cool programs out there right now for first time home buyers, so please refer to my e-mail if you still have some interest and I'd be more than happy to see how we can help you.
I am a mortgage broker. If I can be of service, please let me know!
877-238-6324 Ext 704
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Lynn A. Crosby ~ National Featured Realtor
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