I am assuming your home will not qualify FHA due to the septic/well distance or some other FHA formality. Regardless of that, a conventional loan at less than 50% ltv with a 687 fico should be more than sufficent. If you want me to check out the other qualifications (income) please feel free to contact me.
Why isn't your home/primary residence eligible for FHA financing? If its your primairy residence you should be fine. Especially if you own it free a clear. FHA also allows you to go up to 85%-90% LTV (depending on the lender) when taking cash out. Better than Conventional.