Hi everyone,
I don't know the first thing about buying a home. I went onto the bank of america website (because I have a credit card with them, my checking account is with wachovia) and it seemed really helpful about a lot but now I'm even more lost.
I read something about Federal Housing loans for first time buyers and buyers with low income and/or no down payment. That seems to be me at the moment. Does anyone have any more info on these?
Here's my situation:
-I have no job at the moment so the first thing to do is get one. I read somewhere that a full month of pay stubs might be needed...
-My credit card was a secured one with $90 put into savings and a $500 limit. The savings was just released to me and my limit upped to $1000. What does that mean in terms of my credit score and history?
-I don't have any downpayment money set aside and I only have the one credit card. If I pay that off I have no debt just the monthly utility bills and such.
So what do I do? How do I go about getting a house? Is it possible with my situation? My boyfriend has a longer history with credit but his debt is more with a $5000 loan and two redit cards maxed. Is it possible and what kind of advice can you ladies and gentlemen offer? I know some of you have been thru this before...
Love to all,
-=Phoenix



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