Will I qualify for a home loan?
My husband and I have been married for over a year and we are sick of paying our landlord’s mortgage every month and want to buy our own home within the next year.
We don’t have bad credit. Not sure on exact credit score numbers, but we’ve never had any late payments, and we’ve paid off two car loans and make regular payments on our credit cards. We only have about $ 8000 in student loan debt, and those payments are only $ 85 a month Otherwise, we are payment free (aside from rent, utilities, etc).
Is it even worth trying? We would be looking for a home in the $ 80,000-85,000 range and certainly can’t afford 20% down. We could probably swing about a $ 5000 down payment, but not much more because we need to be able to pay for closing costs, etc.
What do you think? Would anyone give us the time of day?