Buyer first home … do not know about FHA loans or mortgage amount for my income?
I live in Colorado, just purchased a new job where I have a minimum of 68 500 (the medical field, so I adapt to changing my income to about 75,000 hours of overtime) to make. I really want to buy a house, but being a new graduate, I have basically very little for a down payment. I do not know how payment of housing I can afford per month and still save money, etc. No student loan must be paid, the government has done for me, and I have other small monthly payments without children, and I’m single … My question is, are there any disadvantages to an FHA loan? Can someone give me a clear answer to how I can afford a mortgage, rather than generic online calculator? DO NOT REPLY general advice, which I have available. I want someone to hear personal experience. As a first time buyer, I will not live too far over my income and another crash in the housing market … Thank you!