Answers by Tracey Bright

Conventional is the best way to go if you have the down payment. FHA loans have so many extra fees and expenses that make your closing costs extremely high.

My advise is to get in the location you want to be in. You can update your house but you can never change the location of the home.

If the house is the one you think you will stay in for many years and “THE ONE” for you it would be worth it. But if you’re starting out $15,000 under appraisal I would walk away and never give more than the house is worth. The seller will have a hard time selling it over appraisal value.

It may not be the best investment but it really depends on what you want. If it is a house you love and plan on staying in many years I would go for it. But if you think it will be a few years than you will move the resale value may be Lower.

If you pay cash you are not required to have homeowners insurance. But I would not recommend ever going without it.