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Honestly it sounds like you're in a pretty good position op. With no down payment you're going to be house poor for a little while, but if you don't mind buying a smaller cheap place and filling it with thrift shop finds you should be good. Sounds like your market isn't completely hosed so you have that going for you. I would try to save up at lease a few thousand dollars because if you're buying an older house in your price range you're going to have poo poo that needs to get fixed and you want cash on-hand to do that with.
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Jan 4, 2020 08:53
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corgski posted:yeah we have a positive net worth (the best thing dropping out of college ever did for me) and enough accessible in an ira to cover a modest down payment so we’re already basically petit bourgeois, just not enough for the posters in bourgeoise finances club If you subsequently paid the default off or are in the process of paying it off then that should have a minimal effect on your application. Loan officers are humans and will accept explanations if you otherwise look like a good risk.
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Jan 4, 2020 14:22
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) hence worrying about navigating fha loans since they’re supposedly much more willing to work with the imperfect credit + small down payment combo than conventional lenders