@ycnan wrote:
My credit score is low and don't think it can get up above 700 to do a conventional loan by June 2013. I don't know much about conventional and assume it is much more difficult to get a loan, even if I have over 20 percent to put down.
You don't have to have over 700 for a conventional loan...most will do it at 660, some at 680 and a few at 640, possibly even at 620. It may be more difficult to qualify for as you would need higher scores and a 20% down payment but I assume there are much less hoops to jump through. I think a lender would also see you as less of a risk as you are putting down 1/5 of the purchase price compared to 3.5, 5, or 10% and there are less fees on top of that, No FHA org fee, PMI, etc.
