Video Transcript:
Most people think FHA loans are a great deal for first-time buyers. But a hidden upfront fee actually makes you owe more money from day one. I'm David Ghazaryan. I structure loans to avoid these problems. We don’t just look at payments; we look at the whole loan life to save you money. FHA adds a big insurance fee to your loan, currently 1.75%. (Data may vary over time) You pay on it for the entire loan, making it surprisingly costly. A normal loan’s insurance is different. It's temporary. Once your house is worth enough, the extra monthly payment simply goes away, saving you lots of cash. This permanent FHA fee stops you from building ownership in your home quickly. It means when you sell, more of the money goes back to the lender. This is just one part of the total picture for your money. For a deeper analysis, see my platforms and the full article. All links are in the description.
Read Blog Here: https://www.iqratemortgages.com/blog/fha-vs-conventional-loans-in-florida-a-10-year-cost-look
