Are we in the market for buying?My girlfriend and I are sick of paying $1100 per month for rent. We currently live near Minneapolis and plan on staying around this area. I make around $55k per year and have about $250 in monthly installment debt and about 25k in total debt. My problem is my credit score of 580. My girlfriend is the opposite...She brings home about $30k, but has a 750 credit score. She also has about $500 in monthly installment debt. We have been together for over 4 years and plan on getting engaged very soon.We are looking at this home on Zillow: 12626 Freeway Dr W. Hugo, MN.Should we be looking into buying at this point? It seems like taking out a home loan would lower our monthly rent/mortgage payment to help us clear our other debts. Also, this home was valued at $260k in Dec 2006 and is on the market for just $115k. If the market value bounces back in the next 5-10 years and we end up gaining equity, doesn't this lower the "risk factor" of buying?As you can tell, this would be our first home-buying experience..Thanks!November 25 2012 - Saint Paul00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.