Mortgage Broker Responding...
If I were a seller, I too would list only accepting conventional. We all know there is an avalanche of buyers, so why not only deal with the cream of the crop buyers?
I personally look forward to the day FHA is once again "DE-THROWNED" and marginalized with the re-emergence of:
100% No PMI
80/20 (100%) No PMI
NO DOC, 80/20 (100%) hybrid-Option Arms with a 1.00% minimum start rate ........JUST JOKING ON THIS ONE! LOL
However, if used the right way, by a borrower who is not a complete financial numbskull, this program was be a very effective financing tool in an appreciating market.