FHA loan limits will allow you to borrow up to 96.5% of the property's value on a purchase. Keep in mind that you must budget for mortgage insurance if you choose this option, although it generally will fall off in 60 months if you do not refinance before then.
A mid-score of 620+ will be required for normal rate pricing, and 720+ for premium pricing. Give me a call or email if I can be of assistance, I work with a direct-lending mortgage bank in NJ and can let you know what you'd qualify for.
E Mortgage Management
800.793.9633 ext. 156