First time home buyer in san antonio texas?

Question

I just moved to the area and see many homes for sale that would give a low monthly payment (I just moved from FL where renting a home is like $2k a month!) but I don't know anything about home buying. Also, I'm 24 and currently looking for a job.

I want to know once I find employment if it would be wise for me to even attempt getting my own home; I have decent credit FICO score 663 and climbing, but no real down payment money.

It could be a mobile/manufactured home or it could be a real 'home' home, doesn't matter; I just see that rent and mortages are around the same and figure why rent when I can buy???

Any advice on realtors/lending companies that will work with me?? Or why it is or is not worth it to even attempt this move...? All advice is appreciated!!

Answer 1

The previous answer is right. Get a job, stabilize your work history and residency, and then apply for a mortgage loan. If you maintain a good income stream and save some each month, you'll have qualification and a down payment gathered pretty quickly. Welcome to the area. You will grow to love it.

Answer 2

Well, many mortgage companies as well as rental companies are a little gun shy right now selling/renting to people who are unemployed. You can get alot of house for 2000/month.... I would get established residency first..then in a year or so of steady employment, look to buy. What kind of employment are you looking for? I may be able to help... Also I can refer lenders and realtors that I have dealt with in a recent home purchase of my own.