First Time Home Buy with FHA

[Thomas Reed]

Hello everyone! I’m currently in the process of searching for my first property in the area or surrounding areas of Charlotte, NC.

I have been prequalified for an FHA loan up to 200k with no HOA. Since I've been looking, I've noticed there is stiff competition. Also, looking in relation to the price history of many of the properties, they are pretty high. I've placed offers twice, both above ask and haven't gotten anything. The property is to be bought with the intent to live in it, but i eventually plan to use it as rental property. Is now the best time to buy? Any advice?

[Robi Schreckhise]

Hey @Thomas Reed, I have to agree with @Dan Weber if the numbers work, it's a good time. That being said, what specific areas are you looking to buy in Charlotte for $200k? What's your property criteria?