Ugh! Been there, done that. We bought a cheaply built condo in 1980 with a subsidized FHA loan for first time homeowners. Fixed 30 year note at 9.75% and we felt lucky to get it. I think the going commercial rate at that time for a similar loan was something like 13.5%.
I’m too old to go through the 70’s again…
Ugh! Been there, done that. We bought a cheaply built condo in 1980 with a subsidized FHA loan for first time homeowners. Fixed 30 year note at 9.75% and we felt lucky to get it. I think the going commercial rate at that time for a similar loan was something like 13.5%.