Sorry Ronda, but I want to address Mack.
@ Mack... to be honest, that is some bad advice given on the statement that Ronda made. She said her credit is not the greatest. That could mean many different things, unless you have a crystal ball. She should still talk to a professional loan officer to go over her options. I have spoken to plenty of past potential clients that we didn't close on their loan for 1 to 2 years. My biggest concern was going over their credit, educating them on the process of buying a home, and their goals... and a few other things.
Overall, to tell someone not to do it now, based on what she has mentioned above, is poor advice. Yes, some people are given poor advice in which they make bad decisions. Some loan officers don't care as much and just tell the borrower what they want to hear. But to use that as a general statement could hurt any borrower, good or bad. This is my opinion, but you seemed to have already made an assumption based on her statement. You talk about when their credit is healthy. How can you base your comment on her statement? I know some people that had 1 late, and a crdit score of 650, and assumed that their credit wasn't the greatest.
Ronda.. this is food for thought. I still recommend speaking to a professional, and not a professional or expert that says they are. Hence why I gave you a link in regards to interviewing the loan officer also. This is very important... know who you are dealing with, no matter how you find them.. if online, from your realtor, or even your best friend or family member. Not all referrals are as good as the person referring them to you. I know this from first hand experience and from past clients. thanks