Exciting times, right?
When you say what options are open, what do you mean? How much home could you qualify for? You'll need to talk to your loan officer. If you don't have one yet, please let me recommend ours - Katie Sparkman - http://www.katiesparkman.com
- firstname.lastname@example.org - 817.807.5367. She can get you qualified and tell you how much you have to spend on a new home and give you a Good Faith Estimate that will break out all the charges and ultimately give you a monthly mortgage amount including taxes, insurance and everything that will need to be included in that amount. That way you and your fiance can decide how much you feel comfortable spending monthly. She can run it with just your income, just his, the two of you combined... whatever makes you feel most comfortable. Katie can also explain the tax benefits of becoming a home owner as well.
Like was mentioned before, since FHA has raised the limits, instead of being able to buy a $206k home under FHA with almost no down payment, FHA now allows $271k. Of course there are other options besides FHA. If the home appraises, you can roll in all your closing costs, too and come out of pocket with very little - as little as $500. And, if you qualify, there are down payment assistance programs as well in which Katie is very well versed.
If you'd like to keep an eye on what's going on in the Valley Ranch area (or any other area), you can go to our website below and click on power pages, then the area you are interested in and click on it daily and it will give you the latest homes that are available in that area and if there's been any change to them (price increase, decrease, under contract, etc.) Please let us know if we can help in any other way.