Hi Monique: to answer your first question... Yes and No for the 95% LTV with 660 credit score. Yes, you may be approved for the loan BUT it could be a NO because MI = Mortgage Insurance is VERY hard to get with credit scores under 680. If you do get approved for the MI then it will be VERY high! My concern from your e-mail is the mortgage lates on your mortgage were they rolling 30 day late payments or did your mortgage go 9 months delinquent which in a lenders eyes in the start of foreclosure? You stated that your current home is too small for your family... is your family a newly blended family, have you adopted kids, foster kids or had twins/triplets etc...??? There are a few circumstances under which you can hold 2 FHA mortgages is why I am asking. If you would like to discuss your situation further please contact me directly.
Mandy Fritsche, Prospect Mortgage, Mortgage Loan Officer, NMLS# 557211
262-327-5700 Cell, 877-868-9198 Fax, email@example.com