I will be buying a house with the FHA loan. I was told I wouldnt make a profit when I sold. Is this crap?

Asked by Ccraig0034, Winchester, VA Sun Sep 13, 2009

FHA loan. For a house 130-175,000. I plan on buying a townhouse or small home. This is the first time Ive ever heard such a thing but it does make me worry...

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The Mulhern…, Agent, Fairfax, VA
Mon Sep 14, 2009
Yes it is...whomever was giving you this information probably had it mixed up with state subsidized or government subsidized loans that are usually provided to teachers, law enforcement, and other public servants. These types of loans sometimes have equity restrictions on them.

Jimmy
1 vote
Patrick Thies, Agent, Anytown, IL
Sun Sep 13, 2009
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.
1 vote
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