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(SC) Can I afford to buy?

Hi all. Girlfriend (and soon to be fiancee) and I are prospective home-owners. I am familiarizing myself with this sub quickly, so I am sorry if my question could be more easier answered with more searching. I will lay out my conditions below.

  1. Incomes. I take home ~65k and she takes home ~65k.
  2. First child due in March. This is the biggest thing to me, crucial to have everyone under one roof.
  3. I carry no debt. She has 5k credit card,15k car, 15k student.
  4. I have about ~17k cash, 3k savings.

Right now we both live in separate apartments with a total rent of $1750. Our leases both end August 2020. We can beat that on a mortgage pretty handily I believe.

Trying to meet that 20% downpayment, but not crucial with VA loans I see. I would be planning on buying come summer time to save a bit more for that. My father is comfortable contributing via loan, but treating that as a last resort.

I am estimating our budget to be around 200k in the Greenville SC area. Approaching this with VA loans the correct route with our income? Or best to hit that 20% and go with an FHA loan? Any advice is appreciated, or resources that helped with your first home purchase. Thank you!

submitted by /u/biggy_P
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source https://www.reddit.com/r/RealEstate/comments/ehnwcd/sc_can_i_afford_to_buy/
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