Do you know the Downsides of an FHA Loan?

While an FHA loan may be a lifesaver if you would like purchase a home and also restricted cash on hand or even a not-so-great credit rating, these loans do possess some drawbacks you ought to know of before you use.

  • Really strict assessment requirements. The U.S. Department of Housing and Urban developing (HUD) has stringent home appraisal standards that exclude numerous properties from FHA loan eligibility. The house has also to end up being your main or major residence, as an investment property (though FHA loans can be used for some multi-unit properties up to four units) so you can’t use it. Читать далее Do you know the Downsides of an FHA Loan?