Puget Sound Mortgage Broker devoted to providing the best mortgage info through my blog for Issaquah, Bellevue, Seattle, Redmond, Kent, Auburn, Maple Valley, Covington, Renton, and the entire Puget Sound region!
ARCHIVED BLOG POSTS
Here are some real simple basic FHA pros/cons to simply go over and compare an FHA loan to a Conventional loan... FHA Pro: An FHA loan is designed for lower credit borrowers (640-700 range). The loan guarantee allows the government to make a guarantee to the lender against a loan default because ...
FHA has increased their monthly MI cost and lowered the upfront MIP fee to 1%. Conventional is a better option, if you can put down 5% instead of 3.5% and if your credit is above 700. Conventional does not have an upfront funding fee and the monthly MI fee is lower too. Here are the new costs of ...