<prompt> Human: First of all, Im posting this from a throw away account because I dont want any of my financial or location information connected to my normal account. I hope thats okay. Im not happy with my current living arrangements. My son is 3 years old and we live in two story townhouse. The backyard is extremely small and shared with the neighbors. The front yard is about the same size as my parking space. Ive looked for other rentals with larger yards but the rent for those kinds of houses in my area rural Missouri seems to start around 850month. If I can find a house for 100,000 and get a mortgage at a 4 interest rate, I think Id be paying less than 600 per month. In my area that would be a good size 3 bedroom house or a 4 bedroom house with small rooms. Id get my yard, Id get some privacy, and Id have the freedom to paint, landscape, and remodel as I see fit. Yes, I have to deal with things that break but Im willing to take that risk. I will be happier and I think my son will have a better childhood. I would like to buy a house before the end of 2016. Or at least have the financial aspect figured out pre-approved for a loan, etc. I am considering buying a few acres of land outside of town and purchasing a mobile home or manufactured home. This way I get a new home and have more flexibility in deciding the location. I think itd be substantially less than 100k too. I want something big enough that a family of 5 could comfortably live in since I would eventually like to have more kids. I will also keep looking for traditional homes that fit my requirements though.Once I have a financial plan figured out and determine this is indeed possible for me to do, what are my next steps? I am a first time homebuyer and Im purchasing a home in a rural area. What are my loan options? Theres FHA and Rural Development loans that I know of - anything else? How likely is a 100 financed loan where I dont need a down payment? What other fees will I run into purchasing a home? Can the additional fees be factored into the mortgage?What is the best way to get a loan? I went to my bank about 11 months ago to apply for a loan and I was denied. A co-worker told me after the fact that I should find a mortgage broker instead. Is this better advice? What kind of credit score is expected if I want 100 financing?Heres my financial situation: I bring home 1,118 every other week so I usually figure 2,236 for my monthly income. My gross annual income is around 43,000 and I usually get a 1-2 raise every year. I have zero concerns about losing my job. Ill probably work for this company until I retire. My rent is currently 650month. Anything comparable to what I have now will rent for at least 700 but probably more along the lines of 850-900month. I got lucky with this place. My car payment is around 263month but I usually pay 270 or 280. The original note was for 17,051.45. Bought the car in June 2014 with a 75 month term at 5.040 interest. Maturity date is September 27, 2020. Current remaining balance is 13,283.13. Auto insurance is 80month. I have a Visa credit card through my bank with a balance of 278. Im not sure what the interest rate is on this card but Im trying to get it paid off ASAP. It has a 6,000 credit limit. I have an Amex Blue Cash Everyday card with a 6,500 credit limit. Current balance on this card is 4,847.66, most of which was a balance transfer from the Visa to take advantage of the introductory 0 interest rate. I plan on paying this card off before that introductory rate expires in December. After that, my APR will be 17.24. Once both cards are fully paid off, they will only be used on purchases that I know can be paid in full each month. Ill receive around 1000 sometime in February - I plan to use that to either pay down the car loan or the credit card. My electric bill fluctuates between 150-220 usually. My townhouse is not winterized so the really cold months make the electric bill go up more than usual. I spend 60 on internet, 8 on Netflix, and 8 on Hulu. No cablesatellite TV. Cell phone bill is 60 Childcare is 75week so I figure 300month I get good gas mileage and live 2 miles away from work and about 2 miles away from daycare in the opposite direction. I really dont keep track of what I spend on gas. I probably fill up once every 3 weeks or so. Last fill up was 25... I think my budget allows for 40month to be spent on gas. I probably spend 200month on groceries. I dont budget or keep track of this well and could probably tighten it up if I try. I typically only go out to eat once or twice a month and usually spend less than 20 if my son is with me - 10-15 if Im alone. Credit Karma says my credit score is around 700. I still need to order my credit report just to make sure everything looks okay. I have something like 200 in savings. Ive been focused on the credit card debt more than saving. So, I need a reality check. Is this doable for me with my income and debt? Or do I need to keep saving? I know a lot of people here would say keep saving until I can make a 20 down payment but thats 20,000 on a 100,000 loan... I dont see that happening, especially if my rent increases which it will - if I dont buy Im moving to a different place and will end up paying a lot more in rent.  <response>: The answer is no.Never mind a 20 down payment, you dont have enough money for a 3.5 down payment for an FHA loan. You dont have enough money saved for any down payment. You dont even have enough to pay for a home inspection.Theres a little thing called an emergency fund. Renters sometimes skate by with a small one, or without one. Homeowners cannot do this. Emergencies like water leaks, roof leaks, electrical, plumbing type of issues come up in homes and must be fixed immediately to prevent multiplication of damage. If you have no money to fix a roof leak, a 2000 repair can turn into a 20,000 one.Pay off your credit card and build up an emergency fund and a down payment fund if you want to buy a home. Itll take you a couple years. Youll regret it if you dont. 