[shrekadonk]

Me and my fiance are possibly looking into buying a house because we can pay a mortgage for about the same as apartment rent. We were told to check into an FHA loan, but what I was wondering was will we really even qualify given the way the market is right now. I am a full time student and make between 10-15 k, and she is a teacher and makes around 33k. I have good credit hers is bad, and between student loans and all we have a good bit of debt. But like I said if we could get a descent rate we would be able to pay nearly the same for mortgage payment as for rent, but dont know if we could get approved.

[shazabia321]

You could always look for the , "Lease with Option to Buy", where it is like renting a home, but some of the money goes towards purchasing the home!!...Most of the people that own these properties do want to do a thorough background check on you!!...But some are ,easier to go through!!..And most properties are just sitting there vacant right now, and the owners are losing money every month that it just sits there empty!!.
Or you could do what we did, as we both don't have good credit....We got into our house, through an "Owner Financing" Option...Then you take on the property.."AS_IS", and you have to pay a Monthly Mortgage, Rent...to them, but they hold the deed to the house until it is paid for!!
I wish you alot of luck to you and your Fiance, and hope that you get lucky in finding a good deal, of a house!!.