Long story short, I’m 21 and will be getting custody of my younger brother come December. My fiancee and i currently rent a 2Br apartment for $ 500/month. We use the 2nd bedroom as an office since i have about a year left of school, so we will need to sell our office furniture to buy bedroom furniture for him
We’re considering buying a home instead of looking for a 3Br place to rent. Our apartment is OK size, but we feel we’ll be too crowded when he moves in. Three Bedrooms run for around $ 900-1400/month where we live.
My fiancee has been at his job a little over a year (we only moved to the area 2 years ago) and i started a job about 3 months ago making excellent money at a behvaioral health clinic. Our credit scores are in the lower to mid 700’s.
Really the only thing we have against us, i think, is some debt we have. We have about $ 14k in debt, mostly belonging to a loan from our credit union.
We’re kind of at a loss to do…spending over a grand month for rent seems so insane to me… but would anyone give us a loan right now anyway? And how much should i expect to put down (as of right now, 0 down would be best)
Really any vital first-home-buyer info would be appreciated… thanks