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Pros
- Low down payment or none at all.
- Down payment may be gifted
- Low interest rate
- Seller or third party may pay buyer's closing costs
- Qualifying guidelines more restrictive than conventional
- Lender is insured against loss
Cons
- Excellent Credit history required
- Income Limits.
- Loan origination fee possible.
- Strict home inspection guidelines.
- Buyers and Sellers pay discount points and other costs attributed to
FHA loans
- MIP required
- Appraisal guidelines may be more stringent than for conventional
- Loan processing will take longer
Related Site: www.wvhdf.com
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Information
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