[quote=BGinRB][quote=AN]OK, but why would you want to go with FHA when you have 10% down?[/quote]
In case of one of my employees – recommended by his mortgage broker, who is recommended by his “aunt’s friend” agent.
He was sold on FHA with an origination point, discount point and another $2.5K in fees (ex-escrow), all resulting in 5.75%APR.
The aimloan.com cost was $6K less than the friendly broker’s cost and better APR on top of that. All that on a $140K condo.[/quote]
I don’t get it, are you trying to say that FHA was more expensive and that they were “sold” into the loan and not did their research and shop around?
FHA isn’t really a loan, it’s a guarantee/oversight program. Brokers can screw you or overcharge you on any loan program. Think of it like a car dealer, the manufacturer isn’t usually the one gouging people, it’s the individual dealerships charging suckers a grand for paint sealant or scotchgard or whatever.
FHA isn’t really a loan, it’s a guarantee/oversight program. Brokers can screw you or overcharge you on any loan program. Think of it like a car dealer, the manufacturer isn’t usually the one gouging people, it’s the individual dealerships charging suckers a grand for paint sealant or scotchgard or whatever.
FHA isn’t really a loan, it’s a guarantee/oversight program. Brokers can screw you or overcharge you on any loan program. Think of it like a car dealer, the manufacturer isn’t usually the one gouging people, it’s the individual dealerships charging suckers a grand for paint sealant or scotchgard or whatever.
FHA isn’t really a loan, it’s a guarantee/oversight program. Brokers can screw you or overcharge you on any loan program. Think of it like a car dealer, the manufacturer isn’t usually the one gouging people, it’s the individual dealerships charging suckers a grand for paint sealant or scotchgard or whatever.
FHA isn’t really a loan, it’s a guarantee/oversight program. Brokers can screw you or overcharge you on any loan program. Think of it like a car dealer, the manufacturer isn’t usually the one gouging people, it’s the individual dealerships charging suckers a grand for paint sealant or scotchgard or whatever.
Condo rates are substantially higher for both FHA and conventional. That might explain some of the difference.
But yeah it’s silly not to shop around. I know too many people who’ve been steered into the wrong mortgage, or even defrauded, by people they thought were trusted personal friends.
Condo rates are substantially higher for both FHA and conventional. That might explain some of the difference.
But yeah it’s silly not to shop around. I know too many people who’ve been steered into the wrong mortgage, or even defrauded, by people they thought were trusted personal friends.
Condo rates are substantially higher for both FHA and conventional. That might explain some of the difference.
But yeah it’s silly not to shop around. I know too many people who’ve been steered into the wrong mortgage, or even defrauded, by people they thought were trusted personal friends.
Condo rates are substantially higher for both FHA and conventional. That might explain some of the difference.
But yeah it’s silly not to shop around. I know too many people who’ve been steered into the wrong mortgage, or even defrauded, by people they thought were trusted personal friends.
