What are the pros and cons of buying a house using an FHA loan?
Let’s learn what are the pros and cons of buying a house using an FHA loan. The most accurate or helpful solution is served by Personal Finance and Money.
There are ten answers to this question.
Best solution
My wife and I are considering buying a house. Recently a friend told us they put down a really small amount to buy a house. We found out later that it was through the FHA. I'm a freelancer and my wife has a fulltime job. Like most freelancers, I try to minimize my taxable income. I know that to qualify for and FHA, there's a cap for household income. What are the pros and cons of trying to buy a house through the FHA program?
Answer:
Pros Being able to buy a house with less than 10% down. Specifically, as little as 3.5%. Maximum debt...
milesmeow at Personal Finance and Money Mark as irrelevant Undo
Other solutions
I've heard many stories in the past about how this has been done, but all of those stories have been about 7 years ago, so maybe things have changed, maybe not. Here's the situation I'm trying to figure out. To put it simply, I have 100k pre-approved...
Answer:
What you are wanting to do is fraud. You need to have it all in hte contract, the house has to appraise...
Landlord at Yahoo! Answers Mark as irrelevant Undo
money down. What are the pros and cons to this? Is this possible?
Answer:
Land contracts are a really good way to build some equity on a house before you actually buy it. You...
ben_ev0l... at Yahoo! Answers Mark as irrelevant Undo
I am a H1B (working visa ) holder working in South Florida USA. I'm planning to buy a house in next few days. This is my first house. These are my questions: Should I buy the house in my name or open a LLC and buy it in the companys name? What are the...
Answer:
Hello dreambig, Thank you for your question. You can buy a house-- "From An Immigrant, to Future...
dreambig-ga at Google Answers Mark as irrelevant Undo
Is it difficult to get houses appraised for asking price today using FHA loans/appraisers? Specifically in the Seattle area (North Shore area. We are looking at buying. Everything is set but now we have to wait on the FHA appraisal. We are using Wells...
Answer:
I don't know about the probabilities but if it does come in low, there are a couple of options. One...
rainygrl716 at Ask.Metafilter.Com Mark as irrelevant Undo
We are in the process of buying a house. We have a contract on it, the house is a foreclosure owned by the bank, and we are using an FHA loan. We had the inspection this week and since the house was winterized we had a plumber come in to turn on the...
Answer:
In most cases, with an FHA Appraiser; They will come out to do the appraisal and see the damage. In...
Geneviev... at Yahoo! Answers Mark as irrelevant Undo
My husband and I were recently married, we are in the process of trying to refinance our home. We wanted to know the pros/cons of streamline refinance. We are also wanting to add me to house loan to see if added income helps with rate? I am getting the...
Answer:
The FHA Streamline refi option is available to those with existing FHA loans in good standing. The conditions...
gmoney at Yahoo! Answers Mark as irrelevant Undo
Weighing the pros and cons of buying a car in the near future. Should I? (And if so, what should I get?) I have a 2002 Ford Focus with about 85,000 miles which was purchased used in 2003 and and paid off last year. My mom bought the car and the loan...
Answer:
The best course of action would be to find a good mechanic and hang onto your car. You're going to save...
LolaGeek at Ask.Metafilter.Com Mark as irrelevant Undo
My husband and I are about to buy a house soon and we don't want to apply for a loan until all of our small balances (500 and under) are paid off. we will be paying them off around the 22nd of may, how long should we wait to apply for a loan so that...
Answer:
It is not uncommon for credit reporting agencies to have their information at least a month behind....
Cindee J at Yahoo! Answers Mark as irrelevant Undo
OK so I have been thinking of buying a rental property because I move around too much with my job and decided that a personal home is not an option for a few years or so. I figure a rental property could offset some of my student loans once they become...
Answer:
When you buy a rental property (non-owner occupied), you have to come up with at least 25% as a down...
sweetlik... at Yahoo! Answers Mark as irrelevant Undo
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