not on FHA usually

 

Well in about 3 hours I will be finding out the results of our pre approval, we looked a few homes last saturday, and of the ones we looked at this one is so far my favorite
http://www.realtor.com/realestateand...508_1106753853
It will need alot of work cleaning up the landscaping that has kinda overgrown, and the carpet inside is crappy comercial grade stuff thats in bad shape, we will try to clean it, but I am thinking alot of it will need to replaced.
We will be doing some more looking that will be a bit less generic once we get this letter. The guy handling this seemed optimistic for number of about 200,000 but I always have that thing in the back of my mind that it will come back saying "your only qualified for enough for a double wide trailer" lol

 

Really? Never heard of anyone having a problem. I have worked with multiple lenders and 20% was always the mark to hit to avoid pmi and escrow.

 

Good luck getting qualified

If you don't get qualified pm me. I know some people that can get great rates for people who have had trouble getting approved. It is a bit of a lengthy process though.

 

good luck!

 

most of the stuff i've seen references the fact that the people who usually take the FHA route dont have enough to hit 20% / the credit is bad enough that even with 20% or more they are a high enough risk that the escrow is required

not sayin its fact though