Howdy all- Hopefully a FTB later this year. My wife and I (both teachers, ~$120k gross salary) are hoping to buy our first home later this year. We’re in Fort Worth, Texas, which is a hot market right now. Homes that were around $200k a couple of years ago are selling for $300k or more now. Here’s my question- are lenders raising the amount of money that they’re lending to match the rise in prices for new and existing homes? We’re looking into FHA programs and a 100% financing program through Bancorp South, but having looked at the prices of homes in our area, I’m starting to worry that even when we get pre-approved, we won’t have enough on our end to get into the right home.
Thanks in advance!