FHA loans

[Dan Crenshaw]

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.

[Steve M.]

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.