The point is,you have alternatives. When comparing a mortgage payment to a rent check,remember that mortgage interest is tax deductible in most cases. Which may lower the actual annual costs of owning as opposed to renting even after factoring in property taxes,insurance,and home maintenance. Ask your tax advisor for details prtaining your personal situation. Another way to lower a monthly mortgage payment is to bring a co-owner,or buy a duplex that's already generating income to help cover your monthly mortgage payment.
Lenders are in the business of making loans.
And,as one of the nation's largest motgage lenders,we have made quite a few. If your past credit history has some irregularities,there are still many loan programs available to you. Many people mistakenly believe that a short employment history or that being self employed precludes them from qualifying for a home loan. But that's not true in this day and age where more and more people are self-employed,and it's not unusual to change jobs several times over a career span. Ask us about our no income verification or no ratio loans-one of them could be right for you.