Since the house has been on the market so long something is wrong with it, so you'll need to buy conventional, meaning you need a cash down payment of about 2,000. You;ll also need money for closing, another 3-4,000.
You also have too much debt, more then 50%. Get the credit cards to zero and you might squeak by, but of course paying the car off would be better and give you a better interest rate.
You will probably qualify based on income, but you need money down. 3.5% if you go FHA.. Landlord (above) is wrong, if you go conventional you need at least 10% down & closing is usually around 4% of the sales price- although you can ask seller to pay the closing fees. Have you been employed at least 2 years? That is required also. The fact that you probably pay rent to your parents in cash may be a problem. When it's family receipts don't work, we need cancelled checks/or money orders to prove rent. I would suggest you talk to a mortgage lender about getting pre-qualified FHA. It's free. Good luck!
If you are a veteran or buying a home in a rural area there are still two loan programs available that require no down payment. Both will allow total payments of 41% of your gross monthly income. If your current income is comparable to 2013 a total house payment of $633 which is probably in the range of your $69,900 house. The seller is allowed to pay most, if not all of your closing costs with either program so it could be possible. FHA requires 3.5% down, but most states and many local areas offer grant programs to assist with your down payment. Chances are very good that you could buy the home.
Licensed Loan Officer in Ohio
You would need to find the money for closing costs. I would talk to your local bank/credit union to see what they say. For the loan you may need up to 6,000.00 for closing costs and down payment.
You have the income to cover the payments for the loan.
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I work at a accounting office I'm a secretary.
My checks are 771.85 every 2 weeks.
(I am enrolled in 401 K and they take 4% out every pay)..
During Late March-April 17th I make time a half because I work a lot of overtime.
MY 2013 GROSS was 28,042.
There is a house I really want to buy it's been on the market a few months and the house is 69,900. I still have to get pre approved.
760 is my credit score..
My Bills right now are:
Car Payment -Full amount I owe is 11,693.59 (Payment is 265/MO)
Best Buy Credit Card Full amount is 882.91 (Payment 25/MO)
Chase Credit Card 1,788.09 Payment (Payment 35/MO)
I live with my parents and pay them 100 a month.
I have paid off my student loans.
I only have 1 thousand in savings...
Do you think there is a chance I could get pre approved for the amount of the house...
I am looking for a 2nd job. I'm 32 it's time to leave the nest.
