While an FHA mortgage are a life saver if you’d like to buy a home and now have minimal money on hands or a not-so-high credit score, these types of money have some cons you ought to know out of before you apply.

• Most tight appraisal standards. The brand new U.S. Company of Houses and you will Metropolitan Invention (HUD) keeps strict property appraisal conditions one to ban of several services away from FHA financing qualification. The house also has to get most of your or prominent home, and that means you are unable to put it to use given that an investment property (although FHA money are used for some multiple-tool features to four units). Sigue leyendo →