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What is my best option for getting a loan?

Hi. Im interested in purchasing a house in my area but I'm not sure if I would be approved for a mortgage or what kind to go for. I have a stable job history of 10 years working as a Lieutenant in fire rescue and my income is around $65,000-$70,000 with my PRN job as a paramedic in the ER. Unfortunately I have been living outside of my means for many years. I have been in school for the last year and I'm actually going to be seeing an increase in my income but the school I went through was very expensive. I used some credit cards and a signature loan and it dropped my credit score to 628! I have about $5,000 in cash and I'm looking at condos / homes in the $65k-$100k range and it would be my first home. Im trying to do it in the next few months because I will be able to rent out a room if I do. What are my options? Thanks in advance.
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June 10 2012 - Gainesville
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As long as you have made all your monthly credit payments on time you would have a good chance with FHA financing. Also assuming the 5,000 isn't cash in a shoebox and is cash in a bank account.
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June 10 2012
 
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