Asked by Kende1980, Cary, IL • Fri Mar 2, 2012
In the brief.
Lived in Illinois for 1.5 years, living with fiance who has lived here forever.
Fiance is gainfully employed but due to his previous unfortunate layoff of two years has shot credit.
My credit is very good.
I earn approximately 40,000 per year with great job security.
Fiance earns 52,000 a year with great job security (thank you God)
I have 41,000 cash to put down on a house.
I have 650 approx in monthly bills
Looking at homes in the $160-180,000 range
Affordability indicator says I can only afford a $103,000 home. (good luck finding that!)
Will this give me great difficulty in finding a home? How do I go about finding foreclosed homes, and would this be a better option for us (some of the homes we are looking at may even be foreclosed homes, I am unsure)
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