NWSiren t1_itaclbp wrote on October 22, 2022 at 2:42 AM

Reply to comment by auntiepink in Many countries have a "hidden welfare state" for incumbent homeowners, as governments subsidize homeowners through the tax system. The homeownership welfare state is strongest in the US and other Anglophone countries, but weakest in the Scandinavian countries. by smurfyjenkins

One thing to know about FHA and VA loans is that they can also be assumable - meaning if the new buyer qualifies and the lender agrees, the buyer can get the loan with interest rate if the original loan (something very desirable in this market if it was created in the last couple years where rates were even under 3%). Conventional loans are not assumable.

Another perk of the FHA and VA loan products (although paying mortgage insurance through the life of an FHA loan rather than it going away like PMI after 20% down is a cost).

auntiepink t1_itamipg wrote on October 22, 2022 at 4:17 AM

I didn't remember about it being assumable... but that's interesting!