FHA loans; why not?

[scaredyclassic]

most people “walk” in the sense that they only stay 7-10 years, right?

i am disturbed by my calculation that I can lose money by putting 20% down v. the fha loan. I wish someone would speak up and set me straight on why this view of things is dumb.

I hate buying a house. It is truly amazing I have put it off so long.

[patientrenter]

Look for enough in kickbacks and tax credits so you have no money down. Get the loan with the lowest early payments. If home prices go up, refi. If they go down, walk.

That’s the way the govt bozos have set things up. Doing it the responsible way hurts too much.

[patientrenter]

Look for enough in kickbacks and tax credits so you have no money down. Get the loan with the lowest early payments. If home prices go up, refi. If they go down, walk.

That’s the way the govt bozos have set things up. Doing it the responsible way hurts too much.

[patientrenter]

Look for enough in kickbacks and tax credits so you have no money down. Get the loan with the lowest early payments. If home prices go up, refi. If they go down, walk.

That’s the way the govt bozos have set things up. Doing it the responsible way hurts too much.

[patientrenter]

Look for enough in kickbacks and tax credits so you have no money down. Get the loan with the lowest early payments. If home prices go up, refi. If they go down, walk.

That’s the way the govt bozos have set things up. Doing it the responsible way hurts too much.

[patientrenter]

Look for enough in kickbacks and tax credits so you have no money down. Get the loan with the lowest early payments. If home prices go up, refi. If they go down, walk.

That’s the way the govt bozos have set things up. Doing it the responsible way hurts too much.

[smshorttimer]

[quote=scaredycat]pay w/ fha, 3.5% down, get it back with 8k in tax credit. zero at risk[/quote]

Correct me if I am missing something, but couldn’t you do something better with that 8,000 bribe than use it to cover the FHA origination fee or mortgage insurance?

In my case, the difference between 15 percent down and 20 is $18,000. But I end up paying $1400 a year in PMI until that can go away and something like 70 extra a month in mortgage interest. It adds up. And the inflation question just gives me a headache. Thinking hurts.

[smshorttimer]

[quote=scaredycat]pay w/ fha, 3.5% down, get it back with 8k in tax credit. zero at risk[/quote]

Correct me if I am missing something, but couldn’t you do something better with that 8,000 bribe than use it to cover the FHA origination fee or mortgage insurance?

In my case, the difference between 15 percent down and 20 is $18,000. But I end up paying $1400 a year in PMI until that can go away and something like 70 extra a month in mortgage interest. It adds up. And the inflation question just gives me a headache. Thinking hurts.

[smshorttimer]

[quote=scaredycat]pay w/ fha, 3.5% down, get it back with 8k in tax credit. zero at risk[/quote]

Correct me if I am missing something, but couldn’t you do something better with that 8,000 bribe than use it to cover the FHA origination fee or mortgage insurance?

In my case, the difference between 15 percent down and 20 is $18,000. But I end up paying $1400 a year in PMI until that can go away and something like 70 extra a month in mortgage interest. It adds up. And the inflation question just gives me a headache. Thinking hurts.

[smshorttimer]

[quote=scaredycat]pay w/ fha, 3.5% down, get it back with 8k in tax credit. zero at risk[/quote]

Correct me if I am missing something, but couldn’t you do something better with that 8,000 bribe than use it to cover the FHA origination fee or mortgage insurance?

In my case, the difference between 15 percent down and 20 is $18,000. But I end up paying $1400 a year in PMI until that can go away and something like 70 extra a month in mortgage interest. It adds up. And the inflation question just gives me a headache. Thinking hurts.

[smshorttimer]

[quote=scaredycat]pay w/ fha, 3.5% down, get it back with 8k in tax credit. zero at risk[/quote]

Correct me if I am missing something, but couldn’t you do something better with that 8,000 bribe than use it to cover the FHA origination fee or mortgage insurance?

In my case, the difference between 15 percent down and 20 is $18,000. But I end up paying $1400 a year in PMI until that can go away and something like 70 extra a month in mortgage interest. It adds up. And the inflation question just gives me a headache. Thinking hurts.

[recordsclerk]

FHA buyers have fewer homes to choose from. Many foreclosures cannot go FHA due to the 90-day rule. In addition, FHA buyers have to bid higher to get the same house over a conventional buyer. You can add this to the opportunity cost of going with FHA. Not only is there a financial cost, but there is a potential lose of quality.

[recordsclerk]

FHA buyers have fewer homes to choose from. Many foreclosures cannot go FHA due to the 90-day rule. In addition, FHA buyers have to bid higher to get the same house over a conventional buyer. You can add this to the opportunity cost of going with FHA. Not only is there a financial cost, but there is a potential lose of quality.

[recordsclerk]

FHA buyers have fewer homes to choose from. Many foreclosures cannot go FHA due to the 90-day rule. In addition, FHA buyers have to bid higher to get the same house over a conventional buyer. You can add this to the opportunity cost of going with FHA. Not only is there a financial cost, but there is a potential lose of quality.

[recordsclerk]

FHA buyers have fewer homes to choose from. Many foreclosures cannot go FHA due to the 90-day rule. In addition, FHA buyers have to bid higher to get the same house over a conventional buyer. You can add this to the opportunity cost of going with FHA. Not only is there a financial cost, but there is a potential lose of quality.

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