I had an FHA loan because that is what the broker got me :).
Also many moons ago. I had a 5.85 fixed rate because BOA had been Redlining the ghetto I bought in and was forced to give a discount. An FHA inspector gave some superficial look at it. I fixed a few things for him because it was a REPO and no one else was going to do it.I was repairing it while it was still in escrow the appraiser came and I told him it was worth 20% more than I paid for it so I didn’t pay PMI. I moved in and was paying about 60% of market rent. Yes those were the good old days TG. Sold that house for a decent profit to an FHA buyer but told the buyers agent to increase the offer for the added expenses. The house quadrupled in the 8 years after I sold it. Made very nice house cleaning lady relatively wealthy though, so that was good.