Romaida,

Congratulations on your decision to purchase a home! FHA loans are quite popular and user-friendly, although not every lender is licensed to write FHA loans. Do your homework first. If you are not working with someone to direct you to the right folks, please do look me up.

Derek Bauer, Associate Broker / Realtor
Real Estate One

good afternoon...all fha lenders are not the same....from the level of service, pricing, and flexibility fo fico scores and guidelines...we have numerous fha investors, all of which operate slightly different than the next....i would be happy to help you....bob mcclure- success mortgage partners- plymouth, michigan...

Romaida if you are working with a real estate agent your best bet is to ask them for a referral. I have personally used the same mtg rep for 21 years and never once had a rejection or found the costs were higher than he quoted. Try Bill Sassin at 586-532-0600 he is very well versed in FHA loans. In this market you need honestly and trust. Many times a rep will tell the buyer everything is fine only to find out days before closing there is a problem and they can not do the loan. Or they quite a certain amount of money only to find out at closing they need much more.

Just as an FYI if you are looking in NW Macomb you might want to also look into the Rural Development loan.

As for the fixer upper that depends on your ability to do the work, how much you want to do and what it will cost. Right now buyers are moving to the foreclosures because they have great prices only to find out that after they fix it up with cash and credit they may have been better off just paying a little more.