Comments on: FHA Mortgage Loans: A Good Idea for First-Time Buyers? http://www.moneyunder30.com/fha-mortgage-loans Simple, Honest Financial Advice Thu, 09 Feb 2012 22:53:06 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Wojciech Kulicki http://www.moneyunder30.com/fha-mortgage-loans/comment-page-1#comment-3705 Wojciech Kulicki Sat, 28 Nov 2009 04:47:59 +0000 http://www.moneyunder30.com/?p=3877#comment-3705 Jake, I think you hit the nail on the head. Owning a home is not for everyone--in fact, I think it's probably not for most based on financial and emotional ability to have that kind of responsibility. That's the first decision you have to make before you even start looking into the FHA as an option. Jake, I think you hit the nail on the head. Owning a home is not for everyone–in fact, I think it’s probably not for most based on financial and emotional ability to have that kind of responsibility.

That’s the first decision you have to make before you even start looking into the FHA as an option.

]]> By: Jake @ DC http://www.moneyunder30.com/fha-mortgage-loans/comment-page-1#comment-3704 Jake @ DC Sat, 28 Nov 2009 02:42:35 +0000 http://www.moneyunder30.com/?p=3877#comment-3704 I agree Wojciech, I think if your only problem financially is that you don't have a down payment saved up yet, then a FHA loan could be a good thing. However, overall I tend to frown on this sort of government thing, as it's just another program that removes a lot of personal responsibility from the mix and does nothing to dampen the growing sense of entitlement that Americans have nowadays. I agree Wojciech, I think if your only problem financially is that you don’t have a down payment saved up yet, then a FHA loan could be a good thing.

However, overall I tend to frown on this sort of government thing, as it’s just another program that removes a lot of personal responsibility from the mix and does nothing to dampen the growing sense of entitlement that Americans have nowadays.

]]> By: Wojciech http://www.moneyunder30.com/fha-mortgage-loans/comment-page-1#comment-3694 Wojciech Thu, 26 Nov 2009 00:42:06 +0000 http://www.moneyunder30.com/?p=3877#comment-3694 A lot of people have beef with the FHA because they say that it allows people who shouldn't have homes to get them. I agree to a certain extent because a lower down payment and lending standards do attract less desirable and ready applicants. On the other hand--getting the 10-20% now required to get a home can take years and years and years of saving. For those who simply can't do it fast enough, but are in a good place financially, the FHA opens the door to get in much sooner. For that, I think it's a great opportunity. A lot of people have beef with the FHA because they say that it allows people who shouldn’t have homes to get them.

I agree to a certain extent because a lower down payment and lending standards do attract less desirable and ready applicants.

On the other hand–getting the 10-20% now required to get a home can take years and years and years of saving.

For those who simply can’t do it fast enough, but are in a good place financially, the FHA opens the door to get in much sooner. For that, I think it’s a great opportunity.

]]>