FHA Book

My Point Exactly…

The first paragraph of this article, “Home Purchase: Right or Wrong Time?”, perfectly illustrates my point from my last post:

Not everyone will fit in the FHA (Federal Housing Administration) box. There are creative financing options available for those who are in challenging loan situations. Those borrowers that don’t fit the traditional FHA box will have to have more “skin in the game”, (down payment) than ever before.

Okay. I’m going to be honest here. FHA loans are for those who could usually not get a decent loan. If you cannot qualify for an FHA loan you should not be buying a house! Or should at least be buying a cheaper house within the FHA’s limits!!! Creative financing is the entire reason the housing market is in shambles!