Although this is a large topic, I think it boils down to just one question. Should you be buying a house? Whether you are looking at owner occupied or an investment property you need to ask yourself this question. The reason. With financing the way it is can you get approved. The banks will not approve you if you are not fiscally responsible and do not have the ability to make the payment and/or have money down.
There are some options for you:
1. Bond or Rural Development Loans- These will help you with that notorious down payment but certain restrictions apply as far as income and are. These also only apply if the bond is available and if you are owner/occupying the home.
2. Investment Property - This is a great time to buy single family residential investment property. Why? Well think of it this way. If you have the sufficient capital down why wouldn't you. The people need to rent. They haven't somehow just gone away since the housing inventory has increased. That means the rental market is strong. When the market switches you simply assess the value and see if it makes sense for you to go ahead and sell. You could also do a variation of a lease/purchase which has so many benefits I can't begin to touch on the subject.
Every purchase is different and the ROI or best investment is here for the taking. You just need to have it together. Make your mind up to go against the market. These are the times you can be a part of the biggest transfer of wealth we have ever seen in our lifetime. If you have additional questions or would like consultation for you situation, please visit www.JasonSellsOklahom.com or email me a email@example.com. Be a leader not a follower and you will be glad you did.