My FHA Odds

[StartingOver10]

Also remember the underwriting criteria for an FHA loan is substantially easier than it is for a conventional loan. Especially if you have a high LTV conventional loan the ratios are lower and the score requirement is higher.

[JM-AM]

Also remember what qualifies today may not qualify in a year from now.

Qualifications change, rates change ( which impacts how much house you can buy), credit minimum scores change, and changes in programs can happen also.

[MovingForward_2012]

+1, the 4x your salary rule is based on the current rates. When rates change, the way the max home price is calculated may change.

[js0319]

I would say that with absolutely no debt you would be fine with something in the low $200's - assuming you also have the money for down payment, closing costs, etc. Don't put yourself in a situation where you're assuming salary increases and end up being house broke.

[BCullum]

Aren't there limits to FHA loan size wise? I know in the counties we were looking in, the Max they could give us was 280k iirc.

[MovingForward_2012]

Where I live, the max is in the upper 400's. we took out an FHA loan for $347,900.

[BCullum]

which state?

[JM-AM]

Another issue with this scenario is it is a Condo. Requirements and rates usually are different......

[MovingForward_2012]

CO