Questions tagged “FHA loans”
Every answer on the desk tagged “FHA loans”.
-
Question No. 006: When can I remove PMI from my mortgage?
On most conventional loans, you can ask your servicer in writing to cancel PMI once your balance is scheduled to reach, or you pay it down to, 80% of your home's original value. It must…
-
Question No. 004: Can I buy a house with a 620 credit score?
Yes. A 620 credit score clears FHA's 580 bar for 3.5% down, and many lenders will consider you for conventional and VA loans too. The catch is cost: at 620 you will usually pay a higher…
-
Question No. 003: FHA or conventional loan: which is better for a first-time buyer?
FHA is usually easier to qualify for if your credit score is lower or your debts are higher, and it needs just 3.5% down with a 580 score. Conventional often costs less over time for…