A few things have happened in the last few days that have made my fiance and I think about buying a house very soon. First, her father has told us he would gift us $7,500 in lieu of paying for a wedding, if we used it on a mortgage. Also, it appears our current landlords don't want to continue renting the place we live, so we have to be out on March 1st. We weren't planning on buying so quickly, but it make a lot of sense rather than getting into another lease (which would be just as much or more than a mortgage payment). We are looking at getting an FHA loan
The problem is that I have good income but some credit issues, and she has excellent credit but she only works part time (details below). We don't care how the loan is arranged (me or her or me&her)
Besides the question on if we can get qualified, I'd also like to know where we should go to apply. Should we try to get preapproved even before looking for a house? Thanks in advance for all of your help. Here is our info:
Get in touch with a Realtor right away - like tomorrow. It may take time for you to actually find a place. The Realtor will have lender contacts. Make sure the Realtor is experienced. Check with family and friends for a trusted Realtor. If you don't have one there - I do. PM me if you need a Realtor.
Pull your credit report now before you speak with a lender. It will give you an idea of where you stand and what is on there. It is 2015 and you are due a free credit report at annualcreditreport.com. You can get 1 per yaer from all 3 CRA'S.