What are the odds of this?
I have a credit score of 592, I am 20 years old and have only 500 in debt, I make $44,000 have a wife a 2 kids. I'm trying to get a house that costs $69,500 with Texas First Time Homebuyers trying to assist me. I can't sleep because the woman I talk to about the program and loan hasn't called me back yet.
I think I have about a 55% chance of approval. But I could always go home and live with mom until I improve my credit score.
Any good tip for a young man trying to get a house? If I'm denied should I try another lendor?