On this episode of the Personal Finance Podcast,

we're going to talk about how you can put down 3.5%

and buy a house. Oh, What's Pop?

Popp and Welcome to the Personal Finance Podcast.

I'm your host Andrew, founder of Dollar After Dollar.com and today on the personal finance

podcast we're going to talk about one of the coolest ways to buy a house out there

and that's the FHA loan. And one of the most powerful things about the

FHA loan is it allows people to be able to get into a house or buy a house

with a low down payment. And today what we're going to go over is all the rules,

all the regulations, what is an FHA loan, and all the pieces that you need to know to see

if this is a good option for you and your family to

purchase a house.

And then I'm going to tell you exactly what I would do with an FHA loan and in situations where

I would not use an FHA loan because truly I believe an FHA loan is a temporary

loan for someone who is buying a house and that's for a number of reasons and one of

the biggest reasons which we'll get into later on in this

episode is PMI or mortgage insurance because if you get into a house with a

low down payment you're going to pay increased mortgage insurance.

An increased mortgage insurance

causes you to have to pay more unnecessary expenses

that you don't need to be paying,

which could amount to hundreds of dollars a month

...