Maybe this topic has been beaten to death but can someone remind me why i wouldn’t go for an FHA loan today? i think HLS explained this to me at some point but I’ve forgotten. We’re actively shopping, all the houses we’d buy are in the FHA limits. We’d put down just 3.5%, roll 1.75% PMI into the loan, get most of it back in a tax credit, monthly payment at 4.5% interest is near my rent payment, a bit more, but the houses are nicer. I can keep all my saved money, and worst case scenario, the market horrifically tanks and i maybe live there payment free a while and ding my credit. big deal. I’m much more nervous about losing my money than my credit. I’m not even using my dang credit anyway, except for convenience on a credit card. I remember being told it would take me a long time to make up the difference with the PMI on an FHA v. a 20% down loan, but I don’t see it. Maybe I should just buy a dman house, there seems to be no risk, other than deflation and the possibility i could get a cheaper rental in the future. I’m not expecting to make any money on the deal, but it just seems like the government is kind of giving away the money.
House I am closing on Weds would never ever go FHA due to condition of the property they are pretty strict. FHA properties get bid up by all the other people that have no cash and bidding on properties with their 3-5% down. Fixers need to go conventional.
Cash-Conv-FHA-VA.
House I am closing on Weds would never ever go FHA due to condition of the property they are pretty strict. FHA properties get bid up by all the other people that have no cash and bidding on properties with their 3-5% down. Fixers need to go conventional.
Cash-Conv-FHA-VA.
House I am closing on Weds would never ever go FHA due to condition of the property they are pretty strict. FHA properties get bid up by all the other people that have no cash and bidding on properties with their 3-5% down. Fixers need to go conventional.
Cash-Conv-FHA-VA.
House I am closing on Weds would never ever go FHA due to condition of the property they are pretty strict. FHA properties get bid up by all the other people that have no cash and bidding on properties with their 3-5% down. Fixers need to go conventional.
Cash-Conv-FHA-VA.
House I am closing on Weds would never ever go FHA due to condition of the property they are pretty strict. FHA properties get bid up by all the other people that have no cash and bidding on properties with their 3-5% down. Fixers need to go conventional.
Cash-Conv-FHA-VA.
