Purchase two small notebooks, one for you and one for your wife. Commit to each other to write down all monies that are spent for one month. Then sit down and look at it together. This will show you where your money is going AND help you see if you can rechannel this spending to speed up your progress.
Next I woud suggest sitting down with a lender to see where your debt needs to be in order to purchase. This identifies the goal.
As a fellow agent of Edward Korthals, I like his advice of getting yourselves in a position where you have a solid foundation of monies in savings. Sometimes this can be accomplished by purchasing at a lower price point while interest rates are at all time lows AND committing to saving along the way. Homeownership definately has unforseen expenses that come with it.
What does your schedule look like I'd love to sit down with you and your wife and talk through some options. Best regards Deborah
However I think you should talk with a person that is not financially connected to a sale or loan.
Make sure you really can afford a house and that means more than the purchase,the insurance and the tax.
You have to be able to handle unforseen , but unavoidable financial problems , related to the house or other issues.
Remember we are in this financial mess because people bought houses they can not afford .Owning a house is part of a lifestyle , but there are many other things you need to have a good lifestyle. Based on your statement of too much unsecured debt , you might be better off renting a few more years and reduce the debt.
Best wishes to you as you consider purchasing a home!
I would recommend talking to a lender that you know and trust. If you need a referral, I would highly recommend Christina Kerrigone with Wells Fargo. She is in Lancaster. She's very patient and would be happy to go over your credit information and put you on the right track to home ownership. She can be reached at 717-808-4619 or firstname.lastname@example.org. She's very friendly and very easy to talk to. There's no cost or obligation to talk to or meet with her. If you need anything else, feel free to contact me as well. Best wishes!