To put it simply, the FHA loan program is not planned to be utilized for investment or rental properties. Separated and semi-detached houses, townhouses, rowhouses, and condos within FHA-approved apartment projects are all eligible for FHA funding. Your front-end ratio (your home mortgage payment, HOA costs, home taxes, home mortgage insurance, and property owner's insurance coverage) needs to be less than 31% of your gross income.

Your…

You 'd discover yourself in a position where you need to pay back the loan at a time when doing so might be difficult if you need an extended stay in a long-term facility. A reverse mortgage lender can foreclose and take your home if you stop working to pay back the loan when you vacate. what are today's interest rates on mortgages.

Another downside is the continuous expense of keeping your home. You'll be required to keep up with your house's associated expenditures. Foreclosure is…