First time home buyer I need advice please

Housing

Hello personal finance I am looking to buy my first house but I have no idea how to go about this. I am 22 with a girlfriend of five years who will be signing with me both of us will have over two years employment history at our current jobs and make roughly 70k a year combined. I have saved 10k for a down payment and I'm looking to double that by June (I've only been saving since April) when my lease is up. I currently pay $1100 in rent and I am fairly good at managing money. I have a 750 credit score and live in Tennessee (if necessary for loan laws and whatnot). I don't understand how the FHA works and would really like that cleared up. I don't know what kind of price range I should look for and I don't know how much I need down, although I would be interested in a fixer upper as I worked in construction for a few years. Another question I have is should I go with a mortgage company or my bank. Should I rent to own or mortgage. I will answer any questions you guys have to help clear things up. Thank you for the time in advance guys and hopefully I can get this figured out!

Posted Sep 16, 2015, 5:54 AM UTC

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