Source: David Streitfeld, NY Times ( Free Registration )

In January, Mike Rowland was so broke that he had to raid his retirement savings to move here from Boston.

From left to right, Jordan Kurland, Mike Rowland and Michael Bedar, in front of the building they bought in San Francisco for nearly a million dollars, with help from the Federal Housing Administration.

A week ago, he and a couple of buddies bought a two-unit apartment building for nearly a million dollars. They had only a little cash to bring to the table but, with the federal government insuring the transaction, a large down payment was not necessary.

Read Full Article: With F.H.A. help, easy loans in expensive areas