Stated loans are getting tough to do. A Great Loan officer i work with often is Heather Opperman of CTX Mortgage. (219) 942-9333. As far as a good offer, what are your plans for the house; are you going to live in it? or fix and sell? If the later, i would suggest no more than 75% of that132k number to be able to make something on the back end, but there are a lot of variables. Consult with a Realtor no matter if someone in my office or others. A good realtor should be able to help you with comparable homes in the area, to get a better feel for the current market as well as an estimate of where the market is headed.

Good Luck,

Mark

Hey AB!
Just responded to your other post. Now I can see why you are looking for FHA. Currently I know of just one lender in the area that is doing the FHA 203(k) program. This is the rehap loan. The lender caps improvements at $35k and work must be done by an approved FHA contractor.

You might want to have a professional look at your taxes and determine what the income they come up with

Tony