just found out you can buy a home using an FHA loan which only requires 3.5% down AND get down payment assistance which covers your down payment, so basically you can get a home with no money

is there a catch? am i missing something?

musician + designer 🌟 ‎ ‎ ‎  ‎ ‎ ‎  ‎ ‎ ‎  ‎ ‎ ‎  ‎ ‎ ‎  ‎ ‎ ‎  ‎ ‎ ‎  ‎ ‎ ‎ ‎  ‎ ‎  ‎ ‎  ‎ ‎ ‎ ‎ ‎ host /creator | follow → x.com/pasteleth

The catch is you have to get certain insurances, I wanna say it’s called a mortgage premium or something like that, there’s an upfront bit and then then you have to have it for atleast 11 years or something

similar to PMI (when you come in to a mortgage under 20% of the value of a conventional) except this insurance can’t be refi’d out of or drops when you finally make it past 20%

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thing #5 at @clanker