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-23
-single
-no debt
-2 years job security
-10% down payment
-My credit score was nonexistant until I opened an LOC a few months ago with my credit union.
I'm looking at condos in the $55-75,000 range. I'm weary to get the ball rolling because I'd like to build up my credit history a little more (from what I've read 650 is the floor) and even put more money aside for the down payment. As I said, I have no debt, my only bills at the moment are cell phone, car insurance, gas and food.
postscript: the term of the mortgage isn't important to me. If I was able to get a 15 year that'd be great, but if I was stuck with a 30 year I could always pay it down early(provided there are no penalties).
What do you think? Any and all advice is welcomed.
You need to find a lender who can do a MANUAL UNDERWRITE on a FHA loan. Call around to lenders/brokers and ask for that specifically and you should be able to get it done. The 15 year will be an option to you.
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