Yes, now is the time to buy.  Great deals on homes out there.  A lot of people do not think that they will qualify for a loan.  My advice to them is to go through the prequalification process.  It will cost you nothing and will not commit you to anything.  And it will only take about 30 minutes. What it will do is to let you know exactly where you stand.  You will find out if you qualify for a home loan and how much you qualify for.  You can also get advice on how to improve your credit to get it where it needs to be for you to qualify.  Do not assume that you can not afford a house!  House prices have never been lower an interest rates are great, which means that you can afford  a larger house for an affordable monthly house payment.  As other circumstances in life, you will not know until you ask!  Call your realtor today!