It looks like the FHA has increased loan amounts to $200,160 for a single family in Texas. I live in a fairly decent neighborhood and my house was nowhere near $200k. In rural areas $200k will get you a pretty sweet pad on some acreage.
If the idea behind FHA loans is to help provide loans to people who either can’t afford it or have bad credit. These would be high-risk loans, right?
So again, here we see a fine example of loaning excessive money for homes to high-risk applicants.
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