1st home loan advice

[kkelly]

Fico 636 660 708

Was preapproved 2 weeks ago for 219k 95% loan.  House that we have signed a contract on is 175k

My question would i be better off doing an 80/15 with me putting 5% down. This should remove the

Mortgage insurance with more going to the principle.

Is this even feasible?

thanks

Ken

[Anonymous]

You should beable to do that. I would try and just get am FHA loan. That will get you a lower rate and PMI payment.

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kkelly wrote:

Fico 636 660 708

Was preapproved 2 weeks ago for 219k 95% loan.  House that we have signed a contract on is 175k

My question would i be better off doing an 80/15 with me putting 5% down. This should remove the

Mortgage insurance with more going to the principle.

Is this even feasible?

thanks

Ken

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