First-time homebuyers?

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Visit Bankrate.com - they have lots of mortgage tools and info. Be cautious though, looking at their lists of banks that have mortgages for you (like when you follow the link that says check mortgage rates in my area). Some of them are unscrupulous. (We found that out the hard way.)

1. I don't know what kind of deals you could get, but I'd bet there are special programs for government employees. Have your hubby ask at his office, and also check online.

2. Yes. Besides the debt, do you owe any other money, like $ on your cars? They will look at your debt to income ratio. Read online about this and you can figure out what yours is using a formula. (Lenders want to know how much $ you put out each month, and if what you're looking for in a mortgage isn't too much for you.) The better your debt to income ratio, the higher your overall credit score, and the longer you have been at your current jobs, the lower interest rate you will qualify for.

3. Start looking now. It might take you a few mos to pick a decent real estate agent, the neighborhood, and then the house. Also, a closing typically takes 30 days. So if you want to physically be in a house by June 1st, you should have a house under contract by April 1st. And, like I said, mortage rates are likely heading for their lowest in YEARS, so now is the time to buy, before they start creeping back up.

Other advice: When choosing a lender, make sure they are not affiliated with the Money Store. Avoid that company at ALL costs, they are evil.

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First-time homebuyers?

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