Question
10% down on a $550K home, must I have an FHA loan?
I got pre-approved for a fixed rate 30 yr loan from coldwell banker mortgage services. They says that for a $550000 home with 10% down, I need to get an FHA loan, but with 15% down I do not need an FHA loan. The sellers however don't like buyers who are using FHA loans. My question is that is it possible to get a non-FHA loan with 10% down? I am fine with both fixed rate and adjustable rate mortgages. I have a 770+ FICO credit score. Thanks!
6 months ago - 1 answers
Best Answer
Chosen by Asker
Stay away from Coldwell mortgage services. THEY DO NOT GIVE YOU THE BEST RATES Shop around for better rates.. Wells Fargo.. your local bank. You have a good FICO score. I bought a house similarly priced with 9% down and was not forced to go FHA
by R. Guetive
6 months ago
Asker's Rating: 