Many home buyers prefer to use FHA backed loans simply because the downpayment requirement is so low. Others MUST use FHA backed loans because they are very marginal buyers and have very few dollars saved. Clearly the former described buyer is better than the latter.
Generally speaking, purchase offers from buyers who are choosing FHA backed mortgages are assumed to be weak buyers. This means they do not have the capacity to adapt or flex to the situation as it unfolds, in the FHA fairy tale, meaning EVERY issue must be at a cost to the seller. And, when the seller has been beaten to a pulp and can't take it anymore, there will be a history of this activity in the FHA database, which means this issue lives long after the purchase offer has been kicked to the curb. The property becomes stygmatized in the FHA kingdom.
A real estate professional is loth to let this happen to their seller just because they wanted to give a weak buyer a shot, a chance at a nice home.
Your FHA backed mortgage purchase offer CAN be made competive for those who are not weak buyers. Your mission, if you choose to accept it, is to communicate you are not a weak buyer. FHA backed mortgages can, will and are accepted frequently for homes listed otherwise.
To further undermine your position is the reality you do not have a real estate professional representing you. This means you are not vetted. Listing agents do not want to waste their time on buyers you have not been vetted for the type of property they are buying and the financing to be used.
It is possible a 1993 or newer, 3/2, no association, home does not exist for $150K in the location you specified. That is what vetting is all about. In essence. are your objectives related to reality?
You placed the cart before the horse. If you are a serious buyer, you need to pick up the phone and chat with a Princeton Fl Realtor(r). If you are not serious, you will use that 'contact' button.
What will you do?
Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL