For those of you that may have your offer being looked over and not being the one selected on that property you really want do not give up! The program certainly is less desirable at face value for a listing agent than a non FHA purchase such as a Conventional or Cash offer. The key thought from most of these agents with some truth as there are typically lower down payments and Earnest money deposits, credit scores are typically lower and the appraisal process is a bit stricter on what will be allowed to pass with regard to the condition of the property. However, for those FHA purchasers and Agents that stay aggressive when looking and increase the Earnest money deposits for those offers the agents may take a second look at your offer and if the price is comparable then you may have better shot. But regardless, just go to the next home that meets your needs and make that offer….it will take more offers to finally get one accepted but in the end you’ll be in a home that you love and meets your needs…That is if you don’t’ give up! The next strategy that you can employ…is to get LOAN FIRST approval with Joe Lucas at Mclean
Mortgage….With this approval through FHA we have your Verification of Employment, Tax transcripts, SS# verifications ordered and your file is 100% underwritten and approved subject to a ratified sales contract, and appraisal and Title work. What that means is you can write an offer that can close in less than 2 weeks from ratification..meaning you can close just about as quickly as a Cash deal and certainly faster than a conventional deal from a lender that does not have Loan First!!