On a pure financial cost basis, you'll pay less interest with the 15 year option. However, you gain additional cash flow flexibility with the second option. As for which is better, that's up to you.... more
You may be able to do something now. I would speak with a broker who can look and speak with several different lenders. From an FHA standpoint you would qualify now if your credit is in order but lenders establish their own overlays that may be more strict. For this reason you need to speak with somebody who can look at your credit history and find you the best lender. Feel free to call me if you would like to discuss further.
Best of luck to you.
REALTOR® | Mortgage Broker
Austin Real Estate Pros | 360 Lending Group
o 512.669.5599 m 512.633.4157
email@example.com | www.AustinListed.com... more
The only one who can answer that is your insurance company. Some do cover situations like you have when they are caused by various problems. I would call your agent to discuss it immediately. It isn't the sort of problem you want to let go on too long.
CRS, GRI, ABR, e-PRO