I heard that there are a ton of credits and assistance for my county/state for first time home buyers, so I started to casually look at the assistance programs.
Unfortunately, because I would be living with my (unmarried) partner, we make barely too much combined to qualify for most of state and county assistance programs. I think the only program we qualify for is Pennsylvania's closing costs loan.
I net 70k, gross ~60k last year. Partner grossed ~40k last year. We both have 700+ credit scores and no credit card dept. Rent is currently $1,345. My partner's finances mostly break even, even with me footing ~75% of rent, foot, etc; though I still save $200-400/mo for a down payment.
Between us I could wrangle a ~$20k down payment from our savings. If a PA loan can cover closing costs, I hope to keep some of the savings for actual moving costs and initial home improvements (painting, carpeting, etc).
So my questions are:
How much home is realistic for me? I was looking at around $250k, or monthly payments around $900. Would it make sense for taxes or assistance programs to formally get a marriage license or domestic partnership?
I also have an unusual arrangement with my parents where I pay $500 a month for the student loans they co-signed. Its a big expense for me, without the tax advantages, since I'm just sending money to my parents bank account. Is this going to come up in the loan application process?