It's now cheaper to go FHA vs Conventional?!

Рет қаралды 6,382

Жыл бұрын

Big changes have happened recently for conventional loans, and it looks like buyers with bigger down payments & higher credit scores are getting PENALIZED with higher interest rates!!
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Пікірлер: 18

@Psalms20A21 4 сағат бұрын

Thanks for examples. & helpful info. Will share soon.

@GigiDelaRua 21 күн бұрын

You can also put 3.5% with a conventional loan as well

@johnkarner5669 5 ай бұрын

In the example, why does the convention loan have a higher interest rate?

@tyleredwards2100 2 ай бұрын

because it currently does.

@jreinb734 Жыл бұрын

What rules changed?

@JohnnySiegoOfficial Жыл бұрын

So I am basically working on my credit for no reason.

@IkesLionsDen 9 ай бұрын

yes!

@ShayWilliam341 7 ай бұрын

No I suggest you keep excellent credit

@Banana69999 2 ай бұрын

Umm you can put 5% down with conventional

@bhaliwka1091 2 ай бұрын

Where in process of buying, by any chance ur in c.a.? Oc, need some advice

@LemonadeStand991 2 ай бұрын

You can put 5% down on a conventional 😒

@ObstaclestoOpportunities Ай бұрын

facts where are people getting 10% from SMH 3-5% on a conventional owner occupied. 15%-25% on investment property.

@merline509 8 ай бұрын

im here working on my credit to purchase a home with a 15,000.00 down payment. any advice please @whatsamo

@eliubfj 6 ай бұрын

Keep saving up, that's unfortunately too low

@angelvillagrana2187 4 ай бұрын

I managed to get a 2.5% interest rate on my home for $108,000 in 2021 with only 3% down with a conventional loan from my credit union. My credit score at the time was around 740 to 750. If i remember correctly i think i spent a total of $15,000 (maybe a little more) down for everything including down payment on home, appraisals, land surveying, service of realtors, title insurance and home Inspections. But the time was great for interest rates. Despite what these “influencers” say about credit scores, the actual lenders determine who will get a loan along with interest rates based off your credit score so don’t let them fool you. I was 25 at the time but I was very strict with my spending and credit. All good things come to those who wait. I hope you’ll be blessed in time

@ObstaclestoOpportunities Ай бұрын

Find DPA programs in your county, city and state. They will bridge the difference and provide 3-5% for downpayment and closing cost. The programs are provided on Zillow as a feature