DREAM HM NEWS




Buying and Selling a Home

With FHA Help, Easy Loans in Expensive Areas

By David Streitfeld, New York Times
11/23/2009

In January, Mike Rowland was so broke that he had to raid his retirement savings to move here [San Francisco] from Boston.

A week ago, he and a couple of buddies bought a two-unit apartment building for nearly a million dollars. They had only a little cash to bring to the table but, with the federal government insuring the transaction, a large down payment was not necessary.

“It was kind of crazy we could get this big a loan,” said Mr. Rowland, 27. “If a government official came out here, I would slap him a high-five.”

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Print Date: 2/21/2020
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