Do I have enough to buy a house?
I have $ 4000 saved and about $ 12000 of available credit on cards. My cards are at zero balance and I have a FICO score of 720. Right now I can only afford around a $ 1350 payment for a mortgage + insurance and tax. Right now I am able to save around an additional $ 300 per month. I live near Milwaukee, WI and I’m thinking of buying a house in September when my apartment lease is up. Should I wait to buy a home? Based on searches on www.amerisave.com I can get first and second mortgage combo loan 30 year fixed that would allow me to pay little in up front loan costs. Is it worth it to wait another year and save more for the down payment/points payment? Or should I just get in as soon as possible and take a 0% to 3% down loan while I just pay points? I’m just not sure what the best option is. Thanks!