You possess a great philosophy of if you can't afford it, don't buy it! If all thought that way we would most likely not be looking at the upside down mortgages that people have managed to get themselves into. You mentioned outstanding bill, can you clarify that please? Does that mean it is an overdue bill?
If you are sincere in your interest to buy a home, it would behoove you to sit down with a loan officer to determine what you may need to do to improve your score by a minimum of 7 points. Trident Mortgage, Larry Long and Jason Ashe have helped other clients of mine with identifying what the consumer needs to do in order to boost their score. Sometimes it is literally over just a few months. If you'd like to reach out to them, you can reach them at 484-875-2550 or 2570. If email firstname.lastname@example.org or jason.ashe@prufoxroach. com.
The loan officer will also take into account what they call your Debt to Income Ratio (DTI). So again, I would feel that it best you speak with someone you can trust to collect your income information and your liabilities to determine your DTI. Depending on the loan program an acceptable DTI may vary.
You will also want to refrain from credit inquiries until you know specifically from the loan officer your financial strategy to be a new home owner.
I would liike to be more specific but without more info it would be imposible to give you more information.
Have an awesome day! If ther is anything that I can answer futher please let me knw. I am always happy to help.!