Don't despair. My colleagues below have given you fantastic advice. I can imagine your frustration! I know what it feels like to spend hard earned cash, to borrow, to pay your bills on time, to obtain an education, and then to have no one trust you with a loan after you've paid on time for years on end!
It's tormenting beyond belief. But, the $30k in loans you have truly may not disqualify you from owning your home, trust me on this!
A mortgage broker will explain to you (see a GOOD mortgage broker), that it is not "necessarily" the total debt you owe, but your monthly debt to asset or debt to income ratio.
Much of what they'll look at is not the total amount you owe, but what your monthly payments are, and how timely you've been in making those payments.
Mortgage brokers, assisting you will also look at your FICO or Credit Score, which need not be astronomical to qualify for an FHA Loan product. An average score of between 620 to 640 may be just fine. Mind the fact that I use the word "may," because I do not know your full financial picture.
What I do know is that you've been employed for three years, when FHA requirements only require 2 years of employment, your $30k in loans probably have low monthly payments, or at least relatively low monthly payments, and if you have okay credit you may very well be in far better shape than you think.
Go talk to a mortgage broker or give one a call. If you can't find one that you trust, or if someone sounds pushy on the phone, just thank them for their time and hang up. Call the next! If you're still having trouble, call me!!!!!
I'll put you in touch with an ethical, honest, superb mortgage broker or give you several names who you can try, to erase even my own biases from the situation.
You'll be fine! One thing I want you to remember is this: Home price ARE NOT INCREASING RIGHT NOW! In a strange way, the longer you wait, the bigger the home you'll be able to buy for your money.
Of course, if prices increase that goes out the window, but we're very far from a rebound. It's going to remain an excellent time to buy for several years, in all reality. It might pain me, as a professional realtor to say that, but it's 100% true!
So, what does all the banter and cheerleading above this sentence mean for you? Well, it means you're going to be able to buy your house, you're going to have a great house, and if it takes a few months longer, well that just means you'll be able to buy an even nicer house "tomorrow" than you would be able to buy "today."
So chin up, call a mortgage broker and if you don't fine one that you feel comfortable dealing with, call or e-mail me and I'll assist you to the fullest extent of my ability.
Eric M. Abrams
CA DRE# R01862927