No that is thing of the past
Most home buyer would require approx. 3.5% or more as a down payment based on credit score, debt to income ratio.
Check with local mortgage broker for all options made available.
The value of a home is determined by the market conditions along with condition of the house and the location just to name a few. An FHA loan has nothing to do with the value the home may have.
Perhaps whoever told you this means they don't think the townhouse is holding it's value right now.
How does it compare to other townhouses in the area? Is it high for the area? Are prices coming down in the area? These are the types of things that affect house value.... more