First of all kudos to you for taking the time to educate yourself about the Home Buying Process. What J has written is dead on. You need to work with a Realtor who has a good, reliable lender that they can have work with you. The lender will show you all the options that you can explore and if you live in the City Of Carson presently, they might even try and get you into the City Of Carson program. So your 100K to 150K might be even more which translates to a better house.
If we can be of assistance to you please do not hesitate. We can put you in touch with a reliable lender and
get you on the Road to Home Ownership. My wife and me work as a team so you will have two agents working for you.
Look forward to hearing from you.
Ali & Sabire Mirza
The Real Estate Group
I have seen many buyers make the mistake of searching homes assuming what they can afford just to find out that they didn't get the loan or could afford a much lower priced home. Knowing what you can do or not do will save you tons of time and energy!
Well just to start about all programs need 3% down payment. Question #1 if you buy something in 150k you need at least $4,500 for the down just to start. I see the 3k in savings do you have other funds such as 401k, gift funds, IRA's, checking? You apply with a FHA approved lender not FHA directly. I am in southern California so if you would like to discuss your options feel free to let me know.
Area Sales Manager
If your ready to take the first step which is qualifying for a loan then feel free to contact me.
We can also see if you are a candidate for the Carson first time homebuyer program.
Good luck to you.
Our recommendation is to start shopping around and collecting information and knowledge about the borrowing process. Ask about details for an FHA loan that will require approx. 3 to 3.5 percent deposit.
It is a good idea to become pre-approved for a loan so you can act quickly when the right deal is identified.