Need to refinance my ARM mortgage to a Fixed...FHA Loan or Conventional?
I've been looking to refinance my townhouse that i have owned for in the region of 5yrs now. I also have an equity file of credit of 30K. I just received in the post from my credit union that they now proposal FHA loans with no closing etc.. Which loan would be more beneficial to me? a FHA type loan or conventional fixed?? I'm looking to understand my option more.
I'm not sure of my credit score but i know it's excellent, i have no other payments besides the current mortgage. I also enjoy a decent amount of money saved if i obligation to use it for the Refi.
thanks in finance!
Answers:
FHA all of the way! They will lend you the most if your home appraises for smaller amount & they have great rates.
Good luck!
FHA and hopefully the credit union is offering a great rate.
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I need to write an explination on why i filed liquidation 6 years ago...well the reason is not so heartwarming. I file on a mobile home in a crappy park surrounded by drug addicts, so I didnt want to live in that anymore, I tried to sell first...
I'm not sure of my credit score but i know it's excellent, i have no other payments besides the current mortgage. I also enjoy a decent amount of money saved if i obligation to use it for the Refi.
thanks in finance!
Answers:
FHA all of the way! They will lend you the most if your home appraises for smaller amount & they have great rates.
Good luck!
FHA and hopefully the credit union is offering a great rate.
Related Questions:
Please!! Mortgage Lenders, Loan Officers!!?
I need to write an explination on why i filed liquidation 6 years ago...well the reason is not so heartwarming. I file on a mobile home in a crappy park surrounded by drug addicts, so I didnt want to live in that anymore, I tried to sell first...