Obtaining a 1st time buyer loan and where to go?

i want a home i make no real money but have fair credit, my gf of 4 yrs makes real money but has poor credit. Im looking to qualify for about 55k what credit score would i need and who is a bank with a fair 1st time buyer program? could i buy the home on stated income if my credit was high enough? if so how high would i need? what is a decent fixed rate now at 30 yrs with no money down? our rent is 575 and i believe it would be cheaper and in our best interest to pay ourself rather than a landlord. Any other advice would be appreciated. the market im looking in is cincinnati in the UC campus area.Obtaining a 1st time buyer loan and where to go?
I hate to be the harbinger of bad news but get 100% financing with stated income when the only party to the loan that has income has bad credit. Anyone who tells you differently is blowing smoke in you ear, be very, very careful. There are people on here who will tell you ';no sweat, can do';.



I've been in this industry for more than 20 years and I know what can and cannot be done.Obtaining a 1st time buyer loan and where to go?
I used to be a mortgage loan officer. The best advice I can give you is to call several mortgage loan companies (not banks). Mortgage loan companies have hundreds of different loans that they can put a buyer in (including ';stated'; and no money down loans). Banks don't have that option. Make sure that you contact at least 2-3 mortgage loan companies and then, compare what they are offering..down to closing costs, interest rate and term.