Afraid we will not qualify

[Anonymous]

So my fiance and I are weighing out renting vs. owning. We have a boy and girl so need a 3- bedroom. The rents in the area are typically 900-1000 plus utilities. We have been looking online at houses all under 75k. We have about 8k in savings for down payment and closing. Our FICO are 739 (me) and 689 for him. We just paid off 2 credit cards though so his should go up. We have a total credit limit of 15k between all cards and only have 1k left on one card and an auto loan with $700 left. Our biggest concern is our income. We make slightly over 30k a year. Where we live this isnt as low as it seems by the way. I make barely anything because I have been in school full time for two years. My fiance has worked consistently but has swapped jobs a few times and this is what worries us. I'm afraid the job history will deny us the loan even though I think our credit scores and such prove we pay our bills quite well for being in our early 20's. Does it seem like we would qualify? And what type of loans should we consider trying for/ are our best option?

[Anonymous]

Congrats on where y'all at.  You have money in the bank, bills paid on time, pay your rent, raising 2 kids.  Husbands job situation might cause concern, but as you pointed out, it hasn't been a factor on paying bills.  I think your rent history tips the scale your way.  Your mortage payment will be in the ballpark of your rent payments, and that's good.  

I'm not a pro by any means, but if anyone deserves a chance for a home y'all do.  

[wagsk1]

Nice post Bama Guy.

[Anonymous]

I understand exactly where you're at. I just moved into our first home leaving a two bedroom apartment, where my son and daughter (7 & 14 respectively) shared a room for 7 years! Obviously we managed this as well as we could, mostly by keeping the boy only in the room to sleep. Good luck!