not enough fha loan to purchase a home

**dmaguila76** · 04-16-2009, 05:25 PM

hello im new to this home buying thing. make the story short i got approved for an FHA loan but the amount is not enough to buy a nice descent home for my wife and kids. its frustrating to go through this process in life that you worked your butt off but still it seems like that there is no chance to rebound. the home we were looking for is priced @ 139000 here in texas. and the fha is only giving me 90000 for the loan amount. what should i do? maybe some advise from experts here that might be really useful to me, i need help please.

=(

**Greg** · 04-17-2009, 04:32 AM

The FHA loan limits are much higher then what you state. Is it possible that you only qualify for the $90,000 based on your income to debt ratio? If you have car payments or high credit card balances this will take away from what you can borrow.

Talk to your lender about this and see if they have some solutions.

**Thesa** · 04-17-2009, 10:16 AM

remember to stay within your budget -your house payment should not be so high that you can not enjoy life... there are some really nice homes in that price range in parts of Texas.... hook up with an agent and you will be surprised by what you may find if you are patient.