If a person can’t come up with $26k for a traditional loan or $4750 for a government (3%?) loan, chances are they aren’t going to be able to afford the payments on a house requiring those amounts.
Low/No down payments and loans exceeding the value of the house are what got us in this housing mess to begin with.
“chances are they aren’t going to be able to afford the payments on a house requiring those amounts.”
They said the house was $133,000. That’s around $800 a month, probably less than a 2-bedroom apartment rent.
As long as the property doesn’t need too many repairs this should be workable for this couple.
but if you can and dont have to.......go for it cash is king