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Buying a house

Hello,

I'm so new with buying a property right now. I have some question about it.

This is will be my first time buying a house. I have bad credit score. I'm trying to build my score now by getting into a FDR program and get rid all of my credit card and unsecured loan. It's been a struggle for me since I made a lot of bad decision since my divorce financially.

I was able to increase my credit score from 16 point in 1 month, because I started paying off my credit card that has low amount.

As right now I'm making about 75k/year. I'm not sure how much credit score to I need to get to buy a house. Me and boyfriends are planning to move in together and I'm working on paying my debt before we are buying a house together.

I probably should take to some expert about it. And I'm not sure where do I start? I need a lot of help with this.

I think financially I will be much more better this year because I have get rid some of the responsibility that draining my money. I'm trying to save $500/month so I can at least be ok in 6 months. And working overtime hopefully and make more money to tackle some of my debts. With the FDR (Freedom Debt Relief), I hope I can pay off my debt in less than years because as right now it's a 60 months program.

Will I be able to buy a house in 1 year if my credit score go up to 670 in a year? I don't understand anything about it. And real estate is getting expensive now days.

Last year, I got approved ove for FHA loan for 100k with 3.5% down payment. I didn't have the 3.5% down payment because after my divorce and helping family in the past 15 years, I can barely save any money.

submitted by /u/Noonecareswhatever
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1hwghrn/buying_a_house/
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