I know FHA loans have their cons, but is it worth it to buy a home at 24 with an FHA loan if my plan is to sell the home in 2-3 years and get a better home (and presumably be able to afford the full down payment this time)? The only debt I have is student loans for about 25k but I will have that down to about 15k at end of year when my rent is done anyways. I make around 65k a year after bonuses. The total monthly home costs would be cheaper than my current rent (around $1100) and owning would give me equity so I feel like that makes more sense. And since I'm getting rid of the home in 2-3 years the monthly PMI wouldn't effect me long. And I can use the equity I build in this home for the next one.
Submitted April 05, 2019 at 02:27PM by HarrisonMoore70 http://bit.ly/2UzIt6b
