Associated Press | Kate Wood, NerdWallet
[…] It’s unsurprising that FHA loans are especially popular with first-time homebuyers, due to more lenient credit-score and debt-to-income (DTI) requirements. But with scores of buyers searching for affordable, entry-level housing, finding a place to call home can be a struggle.
In pricier markets, even the FHA’s 3.5% down payment option might bust your budget. Houses that have a low asking price but “need TLC” may not pass an FHA appraisal. And in highly competitive markets, it can be difficult to make an offer that gives you an edge on other homebuyers.
Find the full article here: Can’t find an affordable FHA-approved home? You have options.
