Originally Posted by JMX328
The FHA program, while having the best intentions, is unfortunately heavily taken advantage of by people who cannot seemly understand how to manage their financial obligations.
In my opinion... everyone should have 20%+ to put down on a home. With that level of investment, it makes it much, much harder to just up and walk away from it.
Plus people who can actually save 20% of the price of a home obviously have sense of how to manage their finances.
Right now the average down payment amount is 9%, and the amount of jumbo loans as a percentage of all loans is back to 2007 levels. With the FHA bailout on top, tax increases, and austerity now a way of life, the housing market is going to take an ass kicking.