I agree that your conversation should start with a reputable local lender. They will tell you whether or not you can carry the loan alone, just depending on your income, or if you have to combine your income with your husband's income, and therefore include the FHA loan you currently have. Confusing...yes! Talk to a lender...I'm happy to give you names and numbers of some very helpful lenders in the area!
If you are looking at a WHEDA loan, than you wouldn't have to have a down payment...the same holds true for a USDA (rural) loan, but then you wouldn't be looking in Milwaukee County (USDA loans are for "rural" areas), but rather Waukesha, Washington or Ozaukee Counties, for example.
Please contact me if I can be of help...you can click on the blue "Contact" link underneath my picture to send me a message!
Best of Luck,
Kris Plechaty @ First Weber Group Realtors
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Extend your lease for a couple of years, build your credit back up, no late payments, have three open accounts paid as agreed every month from now on. Keep the balances low on credit cards, belwo 25% of the limit. Save as much cash as possible. If your rent is $500 a month and you apply for a house payment with a payment of $1,000 and you havent; saved $500 a month the underwriter is going to scratch his/her head over that. Good luck,
NMLS # 6395
Financing Kentucky One Home at a Time.... more
The property is listed as "sold" in the MLS. The sold price was $168,000 and it looks like it closed in November of 2011. If you'd like to have me set up an automated search for you through MLS, I would be more than happy to do so - it costs nothing and no obligation. I am here to help and answer any questions!
Deb Wolf, Realtor
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