I am looking to buy my first home. I intend to live in it, I may use it as a rental down the road but I will definitely live there for at least 5 years. I have a low income due to medical and insurance reasons. I'm just looking for advice, what would be the best loan for me or the best way to purchase a home? I have looked into foreclosures because they do have some good deals and I like the appeal of a fixer upper home. I do not like some of the restrictions on 203k loans but i would be willing to go that route if it would work for me. I do have debt that I am working on paying off before I even try to be approved for a loan but I would like to know what I need to look for in a property for sale and what type of loan I can expect. From my estimate, I should be approved for about 65k. Thanks in advance for any advice.
