I have a construction loan I am refinancing. My credit score is 640 and my house was appraised at 150,000

Asked by Debbi, Branson, MO Thu Jan 29, 2009

and my loan will be for 112,000. Would I be better of with an FHA loan, or a conventional loan?

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Dominique Re…, , 93704
Fri Jan 30, 2009
I would definitely suggest conventional financing to avoid having to pay the MI insurance. With FHA you have to pay the mortgage insurance even if you have 25% equity. I would really like the opportunity to earn your business. If you have any questions please email or call me anytime. There is also quite a bit of information on our website.

Thank You,

Dominique Ressurreicao
Co-Branch Manager
American Pacific Mortgage
0 votes
Marty S, , Irvine, CA
Fri Jan 30, 2009
I would try conventional. FHA is a given in your situation, BUT you may be able to avoid as muc IM with Conventional.

I am a mortgage broker. If I can be of service, please let me know!

Martin Smith

Precision Funding
877-238-6324 Ext 704
877-238-6324 FAX
0 votes
Bill Blitch, Agent, Branson, MO
Thu Jan 29, 2009
I work with several lenders that could guide you in this matter as they know loan options much better than I do . I checked out rates yesterday ,and it seemed that FHA rate was better at that time. I would be more than happy to put you in contact with a lender that I have had several transactions with. Please let me know if I can be of any assistance.
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