Recently, my wife and I have been looking into buying a home - I have very good credit, only a small number of outstanding debts ($7,000 car loan, $1300/mo rent, and credit cards I pay off every month) and the strong desire to own my property and build equity.
The one thing we don't have - A down payment. And while there are services to help us with that, they're mostly savings programs that require us to put that money away for X years before we can touch it.
So, we're considering putting off the actual purchase of the home for awhile - but I've already consulted a few Credit Unions to find out what kind of Mortgage we could get - and even got documentation for pre-approval from one.
I'm worried that if I push out our purchase date to next year, that we're going to lose a lot of good faith in the credit union, and get a much worse offer down the line. Should I be concerned about this? And if so, is there anything I can do to save my credit score?