No downpayment - Do I have a chance qualifying for a mortgage?

[NG2012]

Hi, here's my story. My mother was terminally ill last year, I moved back to florida to help support her. Last November she got a liver transplant and doing better since. However after her liver transplant she had to take 28k of medication each month. So between September 2012 - February 2013 my savings of 10k for a downpayment on a home completely depleted. Now I'm back home my lease is due in four months and think I should put to rest my dream of buying a house. Between my lack of downpayment and the property price double every month, I'm not sure if I'll get qualify for a mortgage at this point. If anyone have any advice that would be great. Thank you in advance!

Credit rating TU=640 , EF & EQ =650
A car loan with 0% finance balance is month 23k (paying $400 minimum per month)
Job history 12 years same employer
Savings $1500
43k of private and federal student loans in good-standing
Credit card debits $1000 - will payoff by end of next month.

[kdmitchell27]

Assuming you are waiting to go FHA, at least based on your credit score. That said for FHA you need 3.5% for the downpayment. I keep seeing some FHA lenders doing a zero downpayment but not sure if the qualifing score is higher or not. Best bet is to shop around and see if a Loan Officer can tell you if they can help or not. 

Judging from what you listed you have a decent employment record and the score for FHA.

Good luck to you!

[sugspc1]

You can try USDA if your state has it. It requires $0 percent down. The only thing is you have to buy USDA approved homes within a ceratian area. Rual areas. This can be a drive to work and back depending on where you live. We are looking at this option right now. I'm trying to remove the "disputes" on my credit report. You need a min score of 640 to qualify. Good Luck!

[MzKoli]

You can also research down payment assistance programs available in your area.

[jordanmedical]

Fl does have several down payment assitance plans available, I am doing one with my loan. You can start here:

http://www.hud.gov/local/fl/homeownership/programs/countylist06.cfm