The financing requirements for purchasing a home have changed significantly due to the economic crisis. It is important to work with a qualified loan officer to evaluate your options and to create a path for you to move forward in achieving your goals.
A competent loan officer will take all the factors you have mentioned into consideration. As several have indicated here, the FICO score remains a critical part of this equation. If it is not possible to purchase a home, you may also consider leasing a home while you work on resolving any outstanding issues. The Grand Rapids Association of Realtors ® has recently launched a Rental MLS for homes which can be rented.
If you're interested in learning more about what's available on that database or would like to explore the possibility of a rental option for the home which has caught you eye, let us know. A well presented proposal can sometimes open up new avenues. - Tue Aug 11 2009, 08:48