# Want to go look at a house

**URL:** <https://forums.speedlife.net/t/want-to-go-look-at-a-house/23420>\
**Category:** NYSpeed Off Topic\
**Created:** [January 22, 2007, 12:18pm UTC](https://forums.speedlife.net/t/want-to-go-look-at-a-house/23420 "2007-01-22T12:18:32Z")\
**Posts on this page:** 1\
**Showing post:** 8

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**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\
**Post date:** [January 22, 2007, 12:34pm UTC](https://forums.speedlife.net/t/want-to-go-look-at-a-house/23420/8 "2007-01-22T12:34:09Z")

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First time buyer you have a couple government programs. SONYMA and FHA. Both have low down payment requirements but SONYMA will have a slightly better rate, slightly lower down payment but also lower price limits and a lower max income.

We went FHA since we didn’t have the 25k cash to do a traditional mortgage, but made too much and wanted to spend too much to qualify for SONYMA. After 3 years I had put enough into principle + appreciation to refinance to a traditional mortgage and avoid having to pay mortgage insurance (since the new mortgage was less than 80% of the value).

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