buying a house one year from discharge

[texas1882]

Our discharge is this month. We are moving to a new town next August. I really want to buy because I am so tired of renting and the new place we are moving is very expensive to rent. Not to mention we have to have a place in the country for all our animals. I really want to buy but Dh will be going back to college there and we will be there for 3 years. He will be quitting his job in July of next year and starting a new one while also going to college full time. Do you think there is any chance we could get financed, even if just a mobile on some land?
Our credit scores are about 600 and 580 and we have no downpayment and might have 1000 saved by then if lucky

[StartingOver08]

It does not sound like you are ready to buy quite yet. Even FHA requires 3.5% down now plus closing costs. Yes, you can get many sellers to contribute some or all of your closing costs, but they can not pay for your down payment.

Since you were just discharged recently from BK and your husband will be attending school for the next three years; why don't you use that opportunity to save a nice down payment and reserves while he is in school? Collage is tough enough without the added burden of a house payment to be made without adaquate income. JMO.

[texas1882]

Thanks for the reply. We have always owned and let our house go in the bk but we were only paying about 500 a month for it and land it sits on(mobile home) and the electric was like 150 bucks a month. Now we are renting paying 850 a month plus 400 electric(house is huge) and just seem like we are barely making it. So I think we were better off owning because this rental has been a big stress on us.

I was hoping we could buy a 50-80k mobile on some acerage for our animals and live there for 3 years and it be our home. But if we can't we just can't I guess. I was just trying to plan ahead and somehow make it work.