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Updated almost 12 years ago on . Most recent reply

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36
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Dan Crenshaw
  • Brick, NJ
17
Votes |
36
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FHA loans

Dan Crenshaw
  • Brick, NJ
Posted

What are the pros and cons of FHA loans? It's something I hear a lot of people talk about, but unfortunately do not know much about.

Most Popular Reply

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292
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164
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Steve M.
  • Realtor
  • Gallatin, TN
164
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292
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Steve M.
  • Realtor
  • Gallatin, TN
Replied

What questions do you have on them?

They have to be OO's -- Limited Money Down (3-3.5%) -- Great for first time home buyers.

My first house was with an FHA Lender. No issues with an interest rate at about 4.75% (this was about 3 years ago) ... Refinanced out of it last year in to a conventional 15 at 2.75% :)

I prefer conventional with atleast 20% down so you don't have to pay PMI (Private Mortgage Insurance) If you have the means to go the conventional route -- I'd suggest that route.

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