Hi Pete, What you need to do first is to sit down with a bank or someone in the mortgage business, have a confindential conversation with them regarding your income and your debt. They can also answer all your questions about the tax credit. They will then be able to give you an idea of you how much house you can afford and a monthly payment. You've done a great job saving for a down payment and that is a plus. Once you find the house of your dreams remember you will have taxes and insurance, plus your closing cost. If you are looking in the 48042 and surrounding areas, I work there all the time and I would be happy to assist you with your purchase. In my office we offer all the services you would need, we have mortgage, title work, inspectors and insurance. We like to make things easy for our clients.
Please feel free to go to my web site, call or email me for assistance.
Pam Bava, e-Pro Realtor
GMAC Real Estate / The Kee Group