Get a 3% Down Conventional Loan Instead of an FHA Loan

Since FHA has changed their guidelines since June 3, 2013 requiring you to keep the mortgage insurance on for the life of the loan on a 30 year fixed rate mortgage when putting less than 10% down now is the time to be looking at a 3% down payment Conventional loan.

This is a better option because the monthly mortgage insurance is typically cheaper, there isn’t a one-time Upfront Mortgage Insurance Premium (UFMIP) charge of 1.75%  that FHA has, and the seller is more likely to accept your offer becuase most sellers and listing agents do not like FHA Pre-Approvals.

Call today for more details!