What loan would you do???

[an]

If your main reason for going FHA is to keep your asset liquid, then why pay off the loan early? Wouldn’t you want to pay the minimum required? I’d personally would go w/ the 20% conventional. I think those extra cost is just a waste of $, especially if you think you have a stable job and can easily afford the payment.

[GoUSC]

Our offer is actually all-cash so loan type won’t make a difference. We are then going to put financing on it.

Our reasoning behind the FHA structure is that I am of the opinion that cash is king, especially right now. The FHA loan is cheap money and the overall costs are minimal. If my fiancee gets the bonus she is expecting this year then we would use it to pay down the loan to less than 80% LTV and get rid of the insurance cost.

I have heard the interest rate is very close if not the same to traditional financing.

FYI the game plan is to hold the house for a few years then rent it out and buy our next house. Of course that all depends on where the market goes, where our jobs go, etc.

[GoUSC]

Our offer is actually all-cash so loan type won’t make a difference. We are then going to put financing on it.

Our reasoning behind the FHA structure is that I am of the opinion that cash is king, especially right now. The FHA loan is cheap money and the overall costs are minimal. If my fiancee gets the bonus she is expecting this year then we would use it to pay down the loan to less than 80% LTV and get rid of the insurance cost.

I have heard the interest rate is very close if not the same to traditional financing.

FYI the game plan is to hold the house for a few years then rent it out and buy our next house. Of course that all depends on where the market goes, where our jobs go, etc.

[GoUSC]

Our offer is actually all-cash so loan type won’t make a difference. We are then going to put financing on it.

Our reasoning behind the FHA structure is that I am of the opinion that cash is king, especially right now. The FHA loan is cheap money and the overall costs are minimal. If my fiancee gets the bonus she is expecting this year then we would use it to pay down the loan to less than 80% LTV and get rid of the insurance cost.

I have heard the interest rate is very close if not the same to traditional financing.

FYI the game plan is to hold the house for a few years then rent it out and buy our next house. Of course that all depends on where the market goes, where our jobs go, etc.

[GoUSC]

Our offer is actually all-cash so loan type won’t make a difference. We are then going to put financing on it.

Our reasoning behind the FHA structure is that I am of the opinion that cash is king, especially right now. The FHA loan is cheap money and the overall costs are minimal. If my fiancee gets the bonus she is expecting this year then we would use it to pay down the loan to less than 80% LTV and get rid of the insurance cost.

I have heard the interest rate is very close if not the same to traditional financing.

FYI the game plan is to hold the house for a few years then rent it out and buy our next house. Of course that all depends on where the market goes, where our jobs go, etc.

[GoUSC]

Our offer is actually all-cash so loan type won’t make a difference. We are then going to put financing on it.

Our reasoning behind the FHA structure is that I am of the opinion that cash is king, especially right now. The FHA loan is cheap money and the overall costs are minimal. If my fiancee gets the bonus she is expecting this year then we would use it to pay down the loan to less than 80% LTV and get rid of the insurance cost.

I have heard the interest rate is very close if not the same to traditional financing.

FYI the game plan is to hold the house for a few years then rent it out and buy our next house. Of course that all depends on where the market goes, where our jobs go, etc.

[mgoldberg]

Sounds like you don’t need advice, you’re all set. Best of luck with your purchase.

[mgoldberg]

Sounds like you don’t need advice, you’re all set. Best of luck with your purchase.

[mgoldberg]

Sounds like you don’t need advice, you’re all set. Best of luck with your purchase.

[mgoldberg]

Sounds like you don’t need advice, you’re all set. Best of luck with your purchase.

[mgoldberg]

Sounds like you don’t need advice, you’re all set. Best of luck with your purchase.

[propertysearchaddiction]

I was told that you have to pay PMI for 2 years even if the LTV is at 80%. I was also told it was 78% LTV. You might want to confirm with a loan officer just so you aren’t disappointed with all of the FHA rules.
Personally, I don’t like that you can’t waive escrow on FHA so you will have taxes and insurance included in your monthly payment. I would rather keep the cash and pay it every 6 months.

[propertysearchaddiction]

I was told that you have to pay PMI for 2 years even if the LTV is at 80%. I was also told it was 78% LTV. You might want to confirm with a loan officer just so you aren’t disappointed with all of the FHA rules.
Personally, I don’t like that you can’t waive escrow on FHA so you will have taxes and insurance included in your monthly payment. I would rather keep the cash and pay it every 6 months.

[propertysearchaddiction]

I was told that you have to pay PMI for 2 years even if the LTV is at 80%. I was also told it was 78% LTV. You might want to confirm with a loan officer just so you aren’t disappointed with all of the FHA rules.
Personally, I don’t like that you can’t waive escrow on FHA so you will have taxes and insurance included in your monthly payment. I would rather keep the cash and pay it every 6 months.

[propertysearchaddiction]

I was told that you have to pay PMI for 2 years even if the LTV is at 80%. I was also told it was 78% LTV. You might want to confirm with a loan officer just so you aren’t disappointed with all of the FHA rules.
Personally, I don’t like that you can’t waive escrow on FHA so you will have taxes and insurance included in your monthly payment. I would rather keep the cash and pay it every 6 months.

[Author]

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