My dilemma is that I have about 7k in credit card debt and a $600 a month car payment.

The median household income in NC is around $66,186, which qualifies the average family for a $110K house. combine this with higher interest rates on credit cards and rising rent, there goes the downpayment savings. 

Even a bank with an 850 borrower credit score will not give a 5% loan with that type of down payment.

What are you scenarios looking like as far as credit and the types of properties ? 

Are local credit unions more flexible on these criteria?

I would ask her to offer you a 2% seller contribution (Seller credit) if you are buying it as an investment.

Any tips you can share would be greatly appreciated!

My credit score and history is great so it’s only my income that’s holding me back, but I should be able mitigate that with a qualified co-signer if I can’t find better work. 

I have stellar credit and own my personal residence (valued approx $950k) free and clear, so it would be easy for me to get financing personally to purchase it and then transfer to LLC, but that sounds like that could be messy.

My credit score is good high side.