I'm a first time home buyer. I am using a real estate broker who happens to be an investor. My loan type is fha but nearly every property that I'm interested in is "cash or conventional only". Decent fha approved properties in my price range seem to be non existent. I am willing to do cosmetic repairs. The fha approved properites my broker finds for me, I don't like either because of the layout or specs of the house or just the neighborhood. But, the broker is finding cash or conventional properties that she's offering to buy, repair and "flip" to me and keep in my price range. For lack of a better phrase, I feel like I'm being hustled. Am I being too cautious because of her investor interest?
Is it better to use a Realtor or a real estate broker? Are they one in the same?
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A broker is different from a Realtor in that they have a different license. They typically have additional training, but can serve you just as well. They are both capable of doing the same thing for you, but a broker can have people working under them, for example, other Realtors and loan officers.
As far as your FHA loan, you will have a smaller selection because the Federal government has more of a say in what you are doing. They do this because they are guaranteeing your loan. If you do not like the FHA selection, look in to conventional loans. They do not have as strict guidelines.
If you don't feel right about your broker, speak to another one. Did you sign anything saying you will specifically work with only that particular broker for a certain period of time? If not speak to another and see what they can do. This is your home, you need to feel 100% ccomfortable, and if for any reason you don't you should not go through with it. You may regret it in the future. You can never be too cautious.
(There is no guarantee she can keep it in your price range)