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Fha and home buying

I just am hoping for some advice on how to make the most enticing offers with an FHA loan.

Backstory: My husband has extremely low credit usage (only a car payment) , a good credit score (707), and makes a decent income for our area ($60k). We are preapproved for up to $350k but our only option is an FHA loan because we had a chapter 7 bankruptcy two years ago. We sold our house last week and have three months to find a new home AND close while we rent back. We have enough for a 20% down payment.

So obviously, we would qualify for a conventional loan if that was an option but it’s not because of the bankruptcy. We’ve bid on four houses THIS WEEK and lose every time because of the FHA. We’re waiting for an answer on a house that we’ve bid $21k over asking and have an escalation agreement as well that we will probably lose too

. I’m hoping someone has any suggestions on how we can structure our offers to make us more appealing to sellers. We already do a higher earnest money offer than most people in our area but regardless of high offers and earnest money, no one seems to be willing to go with FHA and that’s our only choice. Thanks for your help!

submitted by /u/Deathbycheddar
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source https://www.reddit.com/r/RealEstate/comments/mgwld0/fha_and_home_buying/
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