Should we apply for a home mortgage?
My boyfriend and I want to move out of our parents homes and get our own place. We would like to buy a home rather than rent, but if renting is our only option we could go that route. We are not married yet and we both work. My boyfriend just got discharged from ch 7 bankruptcy a few days ago. His credit score is around 570 and mine is perfect credit just starting 3 years ago. My boyfriend is working full time now along with going to night school. He is taking out financial aid for school this fall. He will be going part time for the next 2 years. I will be done with school soon with no loans and will work part time during my last semester. I don’t know if you need anymore information, but I am just wondering if we would get approved for a mortgage as a first time home buyer in CT? What kind of interest rate would we get? We only have 10K for a down payment and would be interested in a interest only loan.