FHA loans; why not?

[scaredyclassic]

and so, at the end of the day, is it ridiculous to put in 20%? I’m running numbers and it seems like the difference i payments between fha and 20% down is so small it would take a decade of payments before i got my down payment back, assuming the PMI wasn’t cancelled earlier. seems absurd to put 20% down if not necessary.

[smshorttimer]

[quote=scaredycat]and so, at the end of the day, is it ridiculous to put in 20%? I’m running numbers and it seems like the difference i payments between fha and 20% down is so small it would take a decade of payments before i got my down payment back, assuming the PMI wasn’t cancelled earlier. seems absurd to put 20% down if not necessary.[/quote]

A friend of mine who just walked away from his place sounded surprised and almost shocked when I told him we were about to put 20 percent down on a house. I’m just trying to be a good junior Pigg. I do wonder if that’s the right course of action. I don’t want to pay PMI, though, and want to get the best rate. I’m all for higher rates and another leg down, but we’ve been renting for 3 1/2 years and we’re ready for a change.

[smshorttimer]

[quote=scaredycat]and so, at the end of the day, is it ridiculous to put in 20%? I’m running numbers and it seems like the difference i payments between fha and 20% down is so small it would take a decade of payments before i got my down payment back, assuming the PMI wasn’t cancelled earlier. seems absurd to put 20% down if not necessary.[/quote]

A friend of mine who just walked away from his place sounded surprised and almost shocked when I told him we were about to put 20 percent down on a house. I’m just trying to be a good junior Pigg. I do wonder if that’s the right course of action. I don’t want to pay PMI, though, and want to get the best rate. I’m all for higher rates and another leg down, but we’ve been renting for 3 1/2 years and we’re ready for a change.

[smshorttimer]

[quote=scaredycat]and so, at the end of the day, is it ridiculous to put in 20%? I’m running numbers and it seems like the difference i payments between fha and 20% down is so small it would take a decade of payments before i got my down payment back, assuming the PMI wasn’t cancelled earlier. seems absurd to put 20% down if not necessary.[/quote]

A friend of mine who just walked away from his place sounded surprised and almost shocked when I told him we were about to put 20 percent down on a house. I’m just trying to be a good junior Pigg. I do wonder if that’s the right course of action. I don’t want to pay PMI, though, and want to get the best rate. I’m all for higher rates and another leg down, but we’ve been renting for 3 1/2 years and we’re ready for a change.

[smshorttimer]

[quote=scaredycat]and so, at the end of the day, is it ridiculous to put in 20%? I’m running numbers and it seems like the difference i payments between fha and 20% down is so small it would take a decade of payments before i got my down payment back, assuming the PMI wasn’t cancelled earlier. seems absurd to put 20% down if not necessary.[/quote]

A friend of mine who just walked away from his place sounded surprised and almost shocked when I told him we were about to put 20 percent down on a house. I’m just trying to be a good junior Pigg. I do wonder if that’s the right course of action. I don’t want to pay PMI, though, and want to get the best rate. I’m all for higher rates and another leg down, but we’ve been renting for 3 1/2 years and we’re ready for a change.

[smshorttimer]

[quote=scaredycat]and so, at the end of the day, is it ridiculous to put in 20%? I’m running numbers and it seems like the difference i payments between fha and 20% down is so small it would take a decade of payments before i got my down payment back, assuming the PMI wasn’t cancelled earlier. seems absurd to put 20% down if not necessary.[/quote]

A friend of mine who just walked away from his place sounded surprised and almost shocked when I told him we were about to put 20 percent down on a house. I’m just trying to be a good junior Pigg. I do wonder if that’s the right course of action. I don’t want to pay PMI, though, and want to get the best rate. I’m all for higher rates and another leg down, but we’ve been renting for 3 1/2 years and we’re ready for a change.

[blahblahblah]

With FHA, you can get a 6% kickback from the seller, so your downpayment and closing costs would likely be covered. Since there would likely be no up-front payment, if the monthly payment is close to equivalent rent, you essentially have a free call option on any appreciation.

How can you get a 6% kickback from the seller on an FHA loan? I’ve never heard of that.

[blahblahblah]

With FHA, you can get a 6% kickback from the seller, so your downpayment and closing costs would likely be covered. Since there would likely be no up-front payment, if the monthly payment is close to equivalent rent, you essentially have a free call option on any appreciation.

How can you get a 6% kickback from the seller on an FHA loan? I’ve never heard of that.

[blahblahblah]

With FHA, you can get a 6% kickback from the seller, so your downpayment and closing costs would likely be covered. Since there would likely be no up-front payment, if the monthly payment is close to equivalent rent, you essentially have a free call option on any appreciation.

How can you get a 6% kickback from the seller on an FHA loan? I’ve never heard of that.

[blahblahblah]

With FHA, you can get a 6% kickback from the seller, so your downpayment and closing costs would likely be covered. Since there would likely be no up-front payment, if the monthly payment is close to equivalent rent, you essentially have a free call option on any appreciation.

How can you get a 6% kickback from the seller on an FHA loan? I’ve never heard of that.

[blahblahblah]

With FHA, you can get a 6% kickback from the seller, so your downpayment and closing costs would likely be covered. Since there would likely be no up-front payment, if the monthly payment is close to equivalent rent, you essentially have a free call option on any appreciation.

How can you get a 6% kickback from the seller on an FHA loan? I’ve never heard of that.

[scaredyclassic]

kinda like getting married — is 20% supposed to be some sign of commitment? if so, that’s just dumb.

[scaredyclassic]

kinda like getting married — is 20% supposed to be some sign of commitment? if so, that’s just dumb.

[scaredyclassic]

kinda like getting married — is 20% supposed to be some sign of commitment? if so, that’s just dumb.

[scaredyclassic]

kinda like getting married — is 20% supposed to be some sign of commitment? if so, that’s just dumb.

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