All Forum Posts by: Jessica Thomas

Another thing is it's a total sellers market here and I'm seeing some houses where FHA is not even listed. I know my realtor can call and see what their issue is and perhaps see if they would entertain fha but I feel like I would appear like an unstable option with am Fha despite the high income.

Yea it's a full point and a half more... I guess I just want to make sure I make the right decision. I'm not sure why I'm so afraid of later refinancing into a conventional...

about 1.4 pmi on conventional 

fha would be more cash to close, its 3.5% down

I was quoted about 12k on both plus down payment

cash situation is fine, I have it, I would also prefer to keep it in the bank but refinancing down the line scares me as rates may go up even though my credit would be flawless

And yes, I can totally attack it down to 20% easily... 

Raising credit much more is not an option. I need to purchase soon. I've already done everything possible to raise it.

Many lenders make more off fha loans hence my also having slight distrust in the guidance.

Yes I am aware that I will have PMI at a higher rate than an MPI until I pay down 20% of the value which I plan to do by next year. Hence me thinking a conventional would work out better even at a higher rate?

I'm looking into purchasing a single family home in the mid 300s range. Income is more than fine, debt to income is 5%, only issue is credit is only 650. All the lenders I've talked to keep pushing FHA but I'm afraid I'll be stuck with MIP and won't be able to refinance at a decent rate later. Thoughts?