Posted on: 20th Jan, 2014 11:22 pm
I have 20%+ down payment saved in my account. Which loan option should I go for – FHA or conventional?
Hi Guest,
It will be completely your discretion as to which loan option you will choose. As you have 20% down payment, you can go for a conventional loan. All FHA loans require mortgage insurance which is not the case with the conventional loans.
Take care
It will be completely your discretion as to which loan option you will choose. As you have 20% down payment, you can go for a conventional loan. All FHA loans require mortgage insurance which is not the case with the conventional loans.
Take care
Since you have 20% down conventional makes the most sense - Rates will be based on credit score but even if you have low credit the rate will be better than an FHA rate with MIP
Good Luck
Brian Barnes
ENG Lending
Nationwide Lender
Good Luck
Brian Barnes
ENG Lending
Nationwide Lender
