Re: OMG!!!! I GOT MY FHA PRE-APPROV
04-13-2011 06:20 AM
I'd be conservative - I've had the nightmare of having to re-negotiate price with Freddie Mac because my appraisal came in too low for my financing to work. I don't know if your house is one that needs work, but mine is (missing kitchen and bathrooms, garage needs structural repairs, etc). Freddie Mac apparently doesn't quite get that the after-improved value is the one you have to compare to the appraisal price, so they didn't even understand the problem when it occurred. I probably could have gotten the house despite the other offers if I had offered lower than I did, too.
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