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Asked by K P, College / Glen, Sacramento, CA Thu Feb 28, 2013

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3
Julie Traver…, Agent, Southbury, CT
Tue Mar 19, 2013
Favour, I cannot respond to your request at all or pull up your entire message, please call me at 203-578-5631 or 203-723-1104. Would love to try to assist you
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Julie Traver…, Agent, Southbury, CT
Thu Feb 28, 2013
I can definitely give you the names of mortgage officers to assist you further and to also make sure you do not have any restrictions or added fees with FHA vs conventional. Also it may depend on the house you choose as some may not be able to be financed with FHA due to its condition. I would love to assist you through this process and show you houses. I have many years experience in the real estate field and am very knowledgable with short sales and foreclosures as well. Julie Lucia, Realtor, Showcase Realty, 203-578-5631. julie@julierealestate.com
0 votes
Favour, I cannot respond to your request at all or pull up your entire message, please call me at 203-578-5631 or 203-723-1104. Would love to try to assist you
Flag Tue Mar 19, 2013
Tara Stirk, Agent, Stratford, CT
Thu Feb 28, 2013
There are definitely a lot of pros and cons to both. I have found most of the buyers I work with that have 3.5% down go FHA because you have a lower interest rate however you will have mortgage insurance which is over a hundred dollars a month. If you can put 5% down then I recommend going conventional with lender paid mortgage insurance. Your interest rate will be a little higher (1/4-1/2%) but it will be less than what you would pay in mortgage insurance on an FHA and you end up making back that additional 1.5% that you put down in a year or two. I highly recommend sitting down with your mortgage officer and letting them write everything out for you, after all - that is why they get paid! I work with a few awesome mortgage officers in Milford if you need any recommendations.
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