downside of fha loans

The FHA allows lower credit scores and lower down payments-as little as 3%-than Fannie Mae and Freddie Mac do, Hensling said. He said GSEs require at least 10% down on larger loans. One downside: The.

Since FHA rates are the same regardless of credit and are generally competitive, you could end up saving a lot on interest payments with an FHA loan if your credit is lacking. potential disadvantages lack of reward for good credit: The flip side of the same-for-all interest rate is that you may be missing out on a lower interest rate if you have great credit.

A big downside to the FHA loan is the Upfront Mortgage Insurance Premium ( UFMIP). This is collected at loan closing but may also be financed.

mortgage rate for bad credit buying a home with no money down 2015 bridge loan rates current wells fargo dusts Off bridge loan program | Multifamily. – Wells Fargo, the multifamily industry’s largest lender, has rejuvenated its floating-rate bridge loan program for multifamily properties. The news comes fresh on the heels of a similar move from Prudential Mortgage Capital Co., as more institutional lenders see greater demand for, and grow more comfortable with, debt for transitional assets.home equity loans on investment property Home Equity Loans – Elevations Credit Union – A Home Equity loan or line of credit from Elevations allows you to use the equity in your home to pay for education, do home repairs and remodels and more.