Chicagoland Real Estate Agent? Plus Advice on 1st Time Purchase

[Jon Burkhart]

Thank you for the warm welcome I received in my initial post, this is going to be a great group, I can see already.  Maybe you all can help me get creative here, and kick my out of my over-analysis paralysis I tend to fall into.

I have been a renter for..5yrs now.  I would absolutely LOVE to buy a place, but my problem is that I am somewhat cash poor.  After I spent WAY too much on a wedding /honeymoon, it took me some time to pay that off.  Shortly after, my wife and I encountered some pretty hefty medical bills which I am working to pay off in the next 3-4 months.

Here is my dilemma.  Combined we make about 150k per year.  However, I've been throwing 2,500-3,000 per month to knock out debt (as noted above) while I have been paying $1600/mo in rent.  I REALLY want to buy a place, but I have a hard time thinking of putting a pause on paying off my final 10k in debt, to save for a down payment for a place.

Even at 3.5% down, we're talking $7k (down payment), closing costs/fees, and I believe the banks would want to see a few months mortgage sitting in bank account.

Is there any creative ways to get into a home (I make plenty of money), without having to come up with 10-15k up front to do so?  In all honesty, I have not sought out a realtor yet, as I'm not sure if it is possible, and I don't want to waste anyone's time.  I just know I can buy a place for the same if not less than what I pay in rent - but coming up with the up front costs has  been a problem.  IDEAS?? 

If there is a realtor in the Chicagoland area (Buffalo Grove, Vernon Hills, etc.) that can help, I'd be love to have a conversation if you think it's possible from your experience.

**I don't have family that I can borrow or be gifted the money :) **

thanks all!!

JB