New to FHA loan...would like some assistance please :)

[Anonymous]

So this is our first home, first time looking at a loan, ect. I wanted to break into this and get some feedback from a loan place. Called Fidelity First Mortgage on my way home last night. Spoke to a nice rep and he did a run-down of what we could afford. We live in VA and I said no more than $1200/month payment. He came right back and said only $160,000! Is this going to be the same across the board or will it change with every lender? It is an FHA loan, not because of credit but due to low down-payment. I wanted at least $170,000 ball-park...dropping down $10,000 puts us in a different housing area that isn't the best neighborhood.

I would appreciate any thoughts/ideas/advice please!!!

many thanks,

dmg

[DallasLoanGuy]

if the lender knows what they are doing.... it will be the same everywhere.

get a second opinion and see what you get

[Anonymous]

Hi,

We're moving to VA and looking at a FHA loan as well for the low-down payment. That seems about right to me. You may want to check into the VHDA site for downpayment assistance if you meet income requirements.

[Anonymous]

Thanks for that info. I just wanted to make sure before I did shop around. I'm also going ot look ino the VHDA site right now!