Quote:
Originally Posted by JohnnyD
FHA's are nothing more than catalyst to inflated housing prices. If a family cannot afford to put at least 5% down, then they are buying too much house.
|
Actually back in the day it was a good idea. Many people could have made larger down payments but the rates were much lower than conventional and even with the pmi back then payments were lower than say putting 5 or10% down. And lots of people went FHA to keep cash on hand. Now it's a last resort loan for the most part.
Posted from my iPhone/Mobile device