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- A tumblr site dedicated to the people and places that make up Oregon and Southwest Washington.
on Home Buying
I must disagree with your current guest: the $8K tax credit is being used as part of the down payment now - FHA is allowing this. So basically people can put nothing down to buy a house if they qualify for the $8K tax credit.
Also, FHA is allowing very high DTI ratios for these first time buyers. FHA is the new subprime. This is why FHA is facing a crisis and will need to be bailed out probably within the next couple of years.
posted 3 years, 7 months ago
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