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    #16
    Originally posted by 175gr7.62 View Post
    Building or buying? No way I would sell my house to someone using FHA for their mortgage.


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    As long as you get your money at closing, why would you care who someone else uses to finance a house???

    Bisch


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      #17
      Originally posted by Bisch View Post
      As long as you get your money at closing, why would you care who someone else uses to finance a house???

      Bisch


      Sent from my iPhone using Tapatalk Pro


      You ever tried to sell a house to someone using FHA? The hoops they make the seller go through would make the circus jealous. I’m a Marine vet and I won’t sell a house to someone doing a VA loan either. Same crap as FHA.

      Too many folks out there that don’t have to use those programs to deal with that crap.


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        #18
        Originally posted by twistedmidnite View Post
        We used navy Federal, 3 1/2% with 3 1/2% down FHA


        Is this current on a 30 year mortgage or 9 years ago?


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          #19
          Originally posted by 175gr7.62 View Post
          You ever tried to sell a house to someone using FHA? The hoops they make the seller go through would make the circus jealous. I’m a Marine vet and I won’t sell a house to someone doing a VA loan either. Same crap as FHA.

          Too many folks out there that don’t have to use those programs to deal with that crap.


          Sent from my iPhone using Tapatalk
          I am a real estate broker and I personally used a FHA loan to buy my house. I have since refinanced it because I was tired of paying the MIP and wanted to lower my interest rate as well as reduce my term from 30 to 15 years.

          The FHA program is great for first time homebuyers who don't have 20% to put down.

          There is absolutely nothing special or extra that has to be done to get the loan. BoA asked for all the same info as FHA did.

          Your statement is not factual. Maybe you just don't like selling to first time homebuyers?
          Or you had a bad experience with someone who shouldn't be buying a home to begin with. JMO

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            #20
            Home mortgage help

            Originally posted by ballgame View Post
            I am a real estate broker and I personally used a FHA loan to buy my house. I have since refinanced it because I was tired of paying the MIP and wanted to lower my interest rate as well as reduce my term from 30 to 15 years.



            The FHA program is great for first time homebuyers who don't have 20% to put down.



            There is absolutely nothing special or extra that has to be done to get the loan. BoA asked for all the same info as FHA did.



            Your statement is not factual. Maybe you just don't like selling to first time homebuyers?

            Or you had a bad experience with someone who shouldn't be buying a home to begin with. JMO


            I too had to pay for an MIP outside a club in Panama City around 2001[emoji39]



            It used to be called PMI a when I got my FHA loan in 2012.


            I was sold a bill of goods by my Broker that I could drop my PMI as soon as I hit 20% loan to value. 2 years in my house had skyrocketed in value and I had made a few thousand in improvements. I called Wells Fargo and they said I was locked in for 5 years no matter what. At year 5 I called and they said I couldn’t drop it unless I cut them a check for around 26k until year 10.


            From what they told me at year 5 my options were to refi or continue paying around $200 a month for PMI.


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            Last edited by Black Ice; 09-06-2018, 10:41 PM.

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              #21
              Originally posted by 175gr7.62 View Post
              You ever tried to sell a house to someone using FHA? The hoops they make the seller go through would make the circus jealous. I’m a Marine vet and I won’t sell a house to someone doing a VA loan either. Same crap as FHA.

              Too many folks out there that don’t have to use those programs to deal with that crap.


              Sent from my iPhone using Tapatalk
              I am a real estate agent and work with Conventional, FHA, and VA loans. All are about the same to deal with. The only real difference is if the FHA appraisal comes in low it sticks with the house for 6 months. It all depends on the lender. Would rather deal with a mortgage broker than a big bank.

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                #22
                Originally posted by M16 View Post
                That's great if all you care about is a cheap interest rate. If you ever have problems then the fun begins. Hope you never have an insurance claim. It's like dealing with the federal government. I like being able to walk in the front door. Be greeted by name. And being able to talk to a decision maker.
                This right here. We had an insurance claim that paid out just under 9k, but the mortgage company has to endorse the check. They make the federal government look highly efficient! First time I sent the packet of bells and whistles along with the check via certified mail and it “never arrived” although it was signed for at delivery. Get the check reissued and send only the packet of information via certified and the same thing happens, but luckily I still have the check. I refused to send anything more to them unless they sent a prepaid and already addressed envelope to me. They refused to do so until I told them fine and I would just get a lawyer, magically the envelope showed up and was delivered just fine this time. Of course now the processing portion is taking forever, but whatever. Rant over. Wish there was a branch I could walk into and hand deliver the stuff to a real person.

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                  #23
                  Originally posted by 175gr7.62 View Post
                  Building or buying? No way I would sell my house to someone using FHA for their mortgage.


                  Sent from my iPhone using Tapatalk
                  Buying, house is 4 years old. It wasn't that bad, if your not trying to hide something about the house you'll have nothing to worry about.

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                    #24
                    Originally posted by Black Ice View Post
                    Is this current on a 30 year mortgage or 9 years ago?


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                    Less than a year ago

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                      #25
                      Originally posted by 175gr7.62 View Post
                      You ever tried to sell a house to someone using FHA? The hoops they make the seller go through would make the circus jealous. I’m a Marine vet and I won’t sell a house to someone doing a VA loan either. Same crap as FHA.

                      Too many folks out there that don’t have to use those programs to deal with that crap.

                      Sent from my iPhone using Tapatalk
                      And for the record, we didn't HAVE to use THAT program. But why not?? It's only 3 1/2% down. Sure we had the 20% of the $300,000 to put down but why?

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