I was a Loan Officer for 11 years so i can answer any and all of your questions. You could do a FHA loan with 3.5% down. When you say average credit what is your mid score? Needs to be a 620 or above. One of the main things you are going to run into is your DTI (Debt To Income Ratio) Your DTI needs to be below 50-52%. This means when you add up all of your monthly debt i.e. credit cards, child support if any, car note(s), and your PITI on your new home it has to fall below 50-52%. If you PM me your phone number i can call you and do a quick analysis of your situation and tell you if you could qualify or not. Let me know. Hope this helps.
