First time home buyer

[Anonymous]

I'm a first time home buyer with a co applicant. Wondering what kind of loan I should go for.

My score 8's are (is that the right score used for mortgages?)    679,680,677

co-app                                                                                                      777,781,769

My negs-    I have a paid collection from a medical bill. I'm working on getting taken off as we speak.

             I also have a 120 day lay payment in 2013 on a credit card and a 90 day late payment in 2013 on another credit card.

My co applicant has no negatives.

My income was 54k last year. Will be 60k this year. hourly with some overtime. I've on been at this job a year this month. Relocated for this job.

Co applicant   59k salary   22 years same job.

My debts, Car loan 21,500 still owed, payment of 392 a month. I have a couple credits cards with balances below 9% of available credit. 75.00 a month on them

Co applicant. Just a few credit cards with below 9% of available credit.. $150.00 a month.

Down payment we have around 45k,  looking at houses in the 225 to 275k range

Location Madison,MS

I am new to this. Any advice would be greatly appreciated. I've been working on cleaning my credit up the past year. What kind of loan should I be looking for and without having 2 years at my current job hurt me? If anymore info is needed just ask.

[Anonymous]

Sounds like you all are in a pretty good position.  Are either of you a veteran by any chance?  If not, I would look at going either FHA or conventional depending on the payment.  You will get a better rate going FHA but would have to look at the total payment to really see what would be best for you all.  

As far as your employment goes it shouldn't be a big issue as long as you were working before you got your new job.  Generally just need to show a 2 year work history.  What were you doing before you took your current job?