Can I Qualify for a FHA and or a Conventional Loan?

I would suggest you contact a local mortgage company in your are. They will most definitely be able to guide you.

Yes I agree contact a referred local mortgage broker, they will help you with all the options...good luck

I used to work for one of their agencies and recommend asking the local NeighborWorks agency for suggestions of local lenders familiar with their downpayment assistance program. Not every lender will be able (or willing to handle the additional paperwork involved) to link their downpayment funds with a mortgage. Sounds like you likely will qualify but they'll likely have a list of mortgage lenders that have successfully worked with others in the area.

I agree as well, find a mortgage broker in Oregon to assist you on providing qualified comparisons for you. When putting in offers on homes, unfortunately sometimes,someone qualifying on a conventional is found to be a more attractive buyer than on one qualified on an FHA loan. This has more to do with the distant past experience of some realtors and sellers with stricter FHA requirements on getting things fixed before allowing the loan to go through. Our mortgage bank was rated as the number 7 funder of FHA loans in the country last year, and I can say I have no more trouble funding FHA loans on schedule than with conventional, probably because now the only requirements from FHA are primarily pertaining to safety issues. But then that is normally wise for sellers to do before selling the home! Sometimes ifmy borrower qualifies for both FHA and conventional we will declare both on the pre-approval letter, even though the borrower prefers to go with the FHA loan for less of a down payment and lower cost due to credit issues. If conventional is the borrower's choice than there is no need to indicate FHA. That is per the sometimes unfairperception on the part of some realtors and sellers that FHA need be problematical.I find that the lender rep. can sometimes help change that perception by exclaiming that FHA insured loans have not been a problem for perhaps two years with their lending bank or company.

I wrote a bit much in comment on FHA vs. conventional and failed to be clear on what sellers generally need to be on top of before selling the house, which will preventan appraiser from disclosing a problem (i.e. exposed wood that simply needs painting, having working carbon monoxide detectors, etc.)As to down payment assistance, including loans and grants, which we do in CA. you will need an Oregon mortgage broker or banking rep. who is qualified to offer the particular neighborhood program down payment assistance or other down payment assistance programs. They can recommend a lender. If one particular program is not suitable for you they may have another!

As others have suggested, the loan mortgage broker will be your best bet.. your credit score and job time will not be an issue.. but your income might not be sufficient to allow you to purchase a $125K home.. by contacting your local mortgage broker, he should be able to look at your complete scenario and tell you exactly what you would qualify for.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres 480-287-5714 WilliamAcres.com

I always strongly suggest you contact a local mortgage broker for these questions. It doesn't cost anything... They will take your application, then review your exact personal situation to zero in on what programs are available to you, what a payment would look like, and how much money you will need to pull it all together. www.Minneapolis-Mortgage.net