FHA Loan - Pros and Cons of FHA Loans

dmovid01

by dmovid01

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http://www.REIClub.com - Are FHA Loans Good for Home Buyers? Here Are The Pros and Cons To An FHA Loan.

FHA Requirements: http://www.fha.com/fha_loan_requirements.cfm
- mortgage insurance
- fha loan limits
- loan checklist
- closing costs
- fha dept ratios
- fha credit issues

Pros to FHA Loans
- low down payment
- low interest rates
- better chance for loan approval
- credit score is not highly weighted
- flexible repayment term
- work with you
- lower monthly mortgages
- Bankruptcy/Foreclosure

Cons to FHA Loans
- not for everybody
- low limits
- strict mortgage insurance policy
- need established credit
- limited options

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