First time home buyer, my credit score is 716. We want to purchase & improve our current residence.Hi! Thanks for any insight you can offer. I have a strange situation, and am researching how to proceed.My husband and I are in our early 30s, and have been married for nine years. We have one child, and own both our vehicles free and clear. My credit scores are 703, 708, and 738, for an overall average of 716. We want to purchase our first home soon, and we would like it to be the one we are currently living in. His father owns the house, and we simply took over his payments informally – we make out a check to him each month and he in turn makes his loan payment to his lender. I believe he does have a first and second mortgage both on our home. We have no formal/written living agreement, simply the verbal directive that we have our house payment in to him by the 12th of each month. We have previously discussed purchasing the house formally, for whatever he still owes on it, once we were able and ready to do so.I have several questions that I am not finding satisfactory answers to thus far in my research on this matter, and so I am hoping to pick your brains. :) I will post my questions as the first comment on this discussion, as they won't fit here and I have already typed them up as concisely as I can manage.October 31 2013 - Belton00YesReport 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.