Looking for some advice - if you guys know/could refer me to a broker or if you could take a look at my info below and see if it looks like I could even get approved. - landlord is selling the house I'm renting and offered to give me first option to buy. I hadn't planned on buying this soon but am considering buying to ;stay in this home if possible.
Would purchase the house for 65K, appraised value is 75K, and put anywhere from 3.5-10% down depending on how much closing costs add to total needed at closing. Alternatively i would like to build and don’t have enough for a 20% down but can put up land as potential collateral. Located in Mississippi.
Scores based on myfico 8 - 644 / 640 / 657
W-2 employee, made 165K last year but changed jobs (working in healthcare field for >10 years) - this year will likely be ~125K instead.
Monthly debt breakdown:
Credit cards monthly $413 / balance 9886
Car payments - $900
Student loans - currently in deferment as I'm still in school, balance roughly 100K balance, payment before went into defer was 650/mo
One paid off collection for a medical bill.
Never had a bankruptcy or foreclosure.
Thanks for the help!
