what loan would be my best interset.?

Asked by Simon S, San Diego, CA Sat Sep 29, 2012

Which type of real estate loan would be best for me if I plan to hold a property for approximately six years, understands the benefits of leverage, and prefers predictable payments? I have a good credit score, $40,000 available for a down payment, and is interested in a $275,000 property. My DTI will allow qualification for conventional or FHA financing.

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5
Moses.salas.…, Home Buyer, Beverly Hills, CA
Fri Dec 4, 2015
90% conventional, 30-year fixed rate at 5.25%, 1 point
1 vote
why would you recommend that specific loan?
Flag Tue May 31, 2016
Heather Grim…, Home Buyer, Fort Lauderdale, FL
Sun Jun 15, 2014
Are you trying to get the answer to your discussion question on the NMLS exam ? That's really funny!
0 votes
Cindy Davis, Agent, San Diego, CA
Sun Sep 30, 2012
You need to ask a lender that directly. None of us can tell you that on a website.
0 votes
Maria Gilda…, Agent, Manchester, CT
Sun Sep 30, 2012
The experts on this field are the loan officers or mortgage brokers. They will explore and outline the options for you. There are fixed mortgages and ARMs.

Discuss your goal with a competent loan officer.

Best.
0 votes
Michael Cheng, Agent, San Jose, CA
Sat Sep 29, 2012
Well, the answer depends on how much leverage you need. In your situation, you should get a 5 year fixed rate conventional loan. It'll be much lower cost than FHA.
Web Reference:  http://www.archershomes.com
0 votes
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