Hi everyone. I just need some advice about when I can start actively looking for a mortgage.
I was not planning to even start pursuing this until 2017, probably around a year from now.
However, I was just informed my rent is going up (mid-lease) by $60, and I can only imagine what they're going to try to raise to when the lease renews in August. (Note they can raise the rents any time the state allows; the complex was built under some sort of AHA law, and they're clearly trying to raise rents to match the rents around here; I live in Ann Arbor, it's a tight rental market, and rents are out of control.)
Here's a brief rundown of my situation.
I have a $10k tax lien, which under the IRS fresh start program, I will be able to get withdrawn in July. (I verified this directly with the lien office that would be responsible for the withdrawal, and they've assured me I will qualify in July.) I imagine it'll take 30-60 days for that withdrawal to actually occur and disappear from credit reports.
I'm paying $447 on my tax debt; I've been paying for a year, and will continue this for five more years. I'm straight with the IRS and have been in compliance since 2012. (These back taxes were from 2006-2012 when I was ridiculously poor and freelancing.)
I have about $3k in credit card debt, but can easily get that down to near 0. My utilization is around 10-12%.
I have lots and lots of inquiries and new accounts over the last two years as I've been going through the rebuilding process.
I have two charged off accounts from 2011 showing up (one for only $38) and not sure there is much I can do about those. I have two open collections, which I'm paying and will be paid off in the next 2-3 months. One is medical for $700. The other was originally $1000 and has an $800 balance.
My scores are in my signature. My middle mortgage score is currently at 630. I'm hoping the removal of the tax lien, and time, will help.
I make $70k per year, and my debts are a $325 car payment and a $447 IRS payment, plus the current minimums on my credit cards, but those are easily set to 0 by paying them all off.
Is there any way I can start looking before 2017? Or should I just sit tight, take the increased rent, and move forward with the plan to be ready by early 2017?
Note that I only have $2000 saved, and will also be looking for a MSHDA downpayment assistance loan, as I'm a first-time homebuyer and should qualify for that program (though I think it requires a minimum of a 640 credit score).
If I were to start looking, what resources should I use to find a mortgage company?
Forgot to mention: I will be looking for a condo in this area, and those go for $150k-180k.
Are those scores your FICO8 or your mortgage scores? Personally I would wait and really work on getting derog. accts paid off and try sending out GW letters/emails to get some removed. You will need to have cash for closing costs if the seller isn't covering 100% as well as at least 2 months worth of mortgage payments in savings. Also keep in mind all of the expenses with furnishing the house, utility deposits, small improvements you'd like to make (home alarm system, privacy fence, etc). I'm in a similar position... I could qualify right now for a smaller loan amount but I know waiting til the beginning of next year will put me in a much better financial situation with more money saved and more bills paid off. It's hard to wait but I know it will be worth it in the end 
It sounds like it would be prudent to wait. I'm so hesitant to sign another lease at this place given the rent increases, but I also have no interest in moving for a year. I guess I'll probably have to throw more money at this greedy corporation until I can get out of here.
I don't have a loan officer; I don't even have a bank I'm looking at. Is this something I can start working on ahead of time?