Hi,I am looking to buy a first home but my situation is complicated. I am married, my husband and I make around $50k/year. I have a good credit score >700, my husband around 620-640. however, my income is much lower than him. We save enough for 20% downpayment. Is there any program for 1st time home buyer? Will us qualify for a mortgage?Thanks

You should qualify, based on the information you provided. Most likely an FHA loan. Please contact your trusted mortgage broker or I can get you in contact with one to discuss your options.

what is the difference between option pending, pending and pending continue to show?

Option pending means they have an uted contract and are in the option period (inspection time). Pending means that the option period is over and they're waiting to close. Pending continue to show is when the option period is over, they're waiting to close, but between that time, they are taking back-up offers.

as a home buyer, I will be buying a house with cash...I have heard that buying with cash is more attractive to a seller...will this recent news affect my negotiation plans? Example,Is it possible to buy a house that is $160000 for $130000 or am I just spinning my wheels and wasting my time?

Yes it is possible. Cash is king. However, in today's market, the highest bidder wins, unless the home is over-priced, then cash will win because they do not have to worry about appraisals and can close in 2 days.