Asked by NJ, Atlantic City, NJ • Mon May 7, 2012
Details: We are first time home buyers, would like to take advantage of the FHA loan for the 3.5% down and also to utilize the FHA 203k for upgrades to our new home. My fiance has a credit score on the lower end which will pretty much limit us to an FHA loan even though we have a very low debt to income ratio, steady employment and I have good credit. We want to purchase a condo in the lower chelsea area of AC, it is one out of 6 units. I believe the complex will meet all the FHA approval guidelines but we will still have to get the entire complex approved for FHA in order to purchase this place. THe real estate agent suggested that we look towards "traditional mortgages" but let's be honest, FHA is quickly becoming the "traditional mortgage." We are willing to pay a majority of the fees, do the leg work with the attorneys etc...I just need someone who knows what they are doing and are willing to walk us through it.
Real Estate in Atlantic City
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