I am sure you are eager to buy in this wonderful market and take advantage of the tax credits being offered to first time buyers and with the lowest interest rates we have had in 50 years.
Like Lori say you won't know the whole story until you speak with a lender. I would like to highly recommend that you speak to more than one. I have worked with Lori Goldman with Guild Mortgage for over 20 years. She is a direct lender which means her company funds and underwrites the loan... This is great for you because the turn around for loan approval is a lot quicker, more efficent, and close your loan a lot quicker that a mortgage broker... who relies on another company to do the deal.
Give Lori Goldman a call at 619-885-0093. She is out of town, but is returning calls. Please mention my name when talking with her.
Good luck with the process. Also if you have not yet found a good realtor that you are confident in working with, please give me a call. I would like to apply for the job as "your" realtor.
Coldwell Banker Res. Brokerage