Before you make an offer on any property, you need to not base your offer on any specific percentage off of a list price but assess what the house is worth in todays market and base your offer on that.... more
Jacque, You could try checking with your County, some provide assistance through grant programs. As Missy suggested, speaking with a lender would be your first step. Along with FHA, you can also ask about MSHDA through the State of Michigan and USDA Urban Development. Both provide assistance and each will have their own qualifying criteria.
If you are not able to find a local lender to help, HUD has this list of Housing Counselors. They may be more knowledgeable for your area. http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm?webListAction=search&searchstate=MI... more