When working with a homebuyer, I don’t start off by asking, “How much are you approved for buying?”  The better question is, “How much of a payment is comfortable for you?”  Typically, a homebuyer is pre-approved for an amount that is more than what they are willing to pay monthly.  (more…)

FHA has been sustaining first time homebuyer market and lower price point homes through the collapse of the real estate market.  Now that the market is slowly on its way to recovery, FHA is not so subtly backing away from their low down payment options, making it harder for a lot of homebuyers to buy their first home.  (more…)