Getting a mortgage?

[CJIII29]

I am wondering could I get a mortgage on a gross salary of $19,448? I hope to get a used car loan for $9,000 to $14,000. I got a captial one secured credit card, and a $1000 installment loan from my local credit union. I will have a fico score around July.

[ShanetheMortgageMan]

It's possible, but that amount won't qualify you for a whole lot.  I'd recommend you see how handling the car loan, installment loan & secured credit card + your current housing payment for at least a year before looking into a mortgage. 

How much are you able to save up each month now?  What do home prices go for in the area you'd be looking to buy?

[CJIII29]

You can get a decent used home for $50,000 to $120,000. I am saving for the 20 % downpayment for the used car loan, I will problemly rent and apartment for awhile first.

[CJIII29]

I am staying with my parents.

[ShanetheMortgageMan]

Even a $50k home will have around a $400/mo payment ($120k home around $900/mo).  Try saving up that amount each month + make your car payment/installment loan/credit cards for at least 6 months.  If you can do that and still live comfortably then you could be ready for that type of payment.  Also owning a home has a lot of hidden costs.. items break, need to maintain the yard, if the home isn't in perfect condition you probably will want to do some home improvements, you have to pay for all of your own utilities, etc.  I'd recommend you attend a first time homebuyer class with a budgeting module so you can get the full picture.  One of the worst decisions you can make is buying a home and then realizing you can't afford to keep it.

[CJIII29]

I might have to get a part time job, or I start doing carpentry work on the side since it my trade.

[ShanetheMortgageMan]

Increasing your income is a great way to save up more money, however to use a 2nd job or part-time employment & it's income to qualify for the mortgage you need 2 years at the same employer.

[CJIII29]

Yes my carpentry jobs will be a part time business.