ST Alpha - "We were going to do 10% on a $100,000 condo, with FHA assistance for the rest" (Reading a Post)

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In response to "Out of curiosity, how much can you offer as a down payment? -- nm" by David

We were going to do 10% on a $100,000 condo, with FHA assistance for the rest

Posted by Mr. Havens (aka EdwardHavens) Mar 29 '12, 10:17

With Cassy not working to concentrate full-time on her school studies (we find out in three weeks if she got in to Berkeley), it's hard to save up for a down payment.

Responses:

I'm not sure what the parameters are on FHA but it's pretty hard to get a mortgage loan without 20% these days. - David Mar 29, 10:21 4
- Actually, we did pre-qualify for a BofA loan at 3.625%, but then something I still don't quite understand happened - Mr. Havens Mar 29, 10:26 3
  - not to rain on your parade, but I'm sure you listen to NPR and know about the false advertising lawsuits at lawschools re: placement? -- nm - iceberg jones Mar 29, 10:41
  - Bank of America is very strict on their lending practices these days. - groiny Mar 29, 10:27 1
    - yep. -- nm - Diva Mar 29, 10:44

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We were going to do 10% on a $100,000 condo, with FHA assistance for the rest

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