I can make offers that would cause the 1% rule to hold, but these would often be at around 60% of asking price or market value.

It’s growing fast, has good schools, and offers affordable homes compared to Houston.

They often refer to it as 'certainty of close' when reviewing offers.3.

At the time, just about everything was going for much higher price per square foot and with multiple offers.

@CraigIf you have two offers with that high of down payment already you must be living right!

As MFH is dropping there shorts to get and keep full occupancy, offering every spif imaginable, larger units are to accommodate families of size or multi-gen living is a rare inventory. 

The investors I know finding properties on the MLS are making 30+ offers a week, embarassing offers, in hopes of finding 1 or 2 properties a month.Others are door knocking, cold calling, spending money on mailers to find off market properties.  

Hopefully those that stayed on the sideline until the 'time is right' will start underwriting specific deals and recognizing path of progress opportunities that offer multiple operational and exit strategies.  

The final rate that was offered to you was 6.5% at a 30 year fix.

The only real advantage to using an FHA loan is to offer only 3.5% down payment, which in my opinion is barely justified as an advantage.