Mortgage-wise it's 50K multiplied by 3, which is 150K, plus down payment.
If you have 15K downpayment, and your seller agrees to cover your closing costs, you
However, that's if you don't have large car loan payments, your credit card debt is mid or low size or there is nothing in balance on credit cards, and there are no pesky student loans.
Check out if your city has the grants for 1st time home buyers, or get a gift from a relative...
You can also get a loan from 401K plan (but any additional loan will decrease your buying power).
So, this all has to be carefully planned and calculated.
So, to figure out how to maximize your buying potential, meet with a good mortgage pro
and discuss how you can get to 175K price point.
Best of luck in your purchase!
Beachfront Realty, Inc.