Exactly what are the drawbacks of an FHA Loan?

Exactly what are the drawbacks of an FHA Loan? While an FHA loan could be a lifesaver before you apply if you want to buy a home and have limited cash on hand or a not-so-great credit score, these loans do have some drawbacks you should be aware of. Extremely strict assessment requirements. The U.S. Department of Housing and Urban developing (HUD) has stringent home appraisal criteria that exclude numerous properties from FHA loan eligibility. The house also offers to…