FHA and Non Borrowing spouse debt

[DallasLoanGuy]

5% down conventional is available down to 620

[_NERD]

Dallas, in CA we can go conventional with 5% down?

[Anonymous]

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@_NERD wrote:
Dallas, in CA we can go conventional with 5% down?

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Yes, you can go as low as 3% down conventional. 

[_NERD]

Oh ok. I did some googling and realize the 20% magic number I kept thinking about was related to PMI. Thank you for clarifying.

We have more than 5% and can cover closing costs ourselves also. Ive contacted two LOs and neither contacted me back. Hmm.

Thanks again.

[Anonymous]

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@_NERD wrote:
Oh ok. I did some googling and realize the 20% magic number I kept thinking about was related to PMI. Thank you for clarifying.

We have more than 5% and can cover closing costs ourselves also. Ive contacted two LOs and neither contacted me back. Hmm.

Thanks again.

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If you are in CA, you can always give me a holler.

[thegrapelady]

Just wanted to update. We ended up switching to conventional and got clear to close yesterday. Originally I thought FHA was the way to go, but after this experience I will always stick with conventional. 

[_NERD]

dpeezy: I didn't see your message about hollering at you until just now. And your PM. I started working with a lender on the 5th. Thank you for offering and sorry we didn't connect.

[Anonymous]

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@_NERD wrote:
dpeezy: I didn't see your message about hollering at you until just now. And your PM. I started working with a lender on the 5th. Thank you for offering and sorry we didn't connect.

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No worries, I'm always here if things don't work out. Good luck!