Conventional or FHA loan question...?

[DZOCE]

Im sorry if Im asking the same questions over again but I need some help! Considering the new FHA rules going in effect on June 1st and me getting ready to apply right after that I don't know which is the right way to go? I can do 5% down and my middle score is 728. Is it possible to go conventional with that kind of down payment or its just a myth? What's the right way to go? One more questions if you guys don't mind do I need at least two years employment with the same company or in the same field? Thanks a lot in advance!

[tooleman694]

You can go conventional with as low as 3 percent down with a 680 score.

You need your work experience in the same field.

[DZOCE]

Thank you! I appreciate your time and your help.

[DallasLoanGuy]

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@DZOCE wrote:

Im sorry if Im asking the same questions over again but I need some help! Considering the new FHA rules going in effect on June 1st and me getting ready to apply right after that I don't know which is the right way to go? I can do 5% down and my middle score is 728conventional will be a better deal. Is it possible to go conventional with that kind of down payment or its just a myth? 5% is not a myth. we do it all of the time What's the right way to go? side by side comparison will answer that. a good loan officer will be able to explain to well enough that YOU will know the answer to the question about which is best.One more questions if you guys don't mind do I need at least two years employment with the same company or in the same field? same line of work Thanks a lot in advance!

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employment:

you can leave your job as a plumber and get a new job as a plumber with new company... and you are ok

cannot leave job as plumber and then take accountant job with same company...

did that make sense?

[DZOCE]

Yes thanks a lot guys!