“Don’t be trapped into thinking that with little money for down payment, FHA financing is your only option. With 1.75% Upfront Mortgage Insurance Premium required, and monthly Mortgage Insurance Premium lasting for the duration of the loan, it pays to explore other options.
Conventional financing allow a client to put as little as 5% down, mortgage insurance is available down to a 660 credit score. The mortgage insurance is less expensive and can drop off when the home builds up just over 20% equity.”
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