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Is FHA The Best Option for Us?

Hey,My family and I are attempting to buy a 400 thousand dollar home in florida. Together my wife and I earn close to 200k and we can currently afford to put 8 percent down payment.At this moment, they are still developing the home and it should be ready by December 09'The only debt we have is our 600 dollar a month SUV loan other then that we are completly debt free.Do we have a shot landing this home?I heard a rumor that interest only loans are still available is this true?With our current situation should we go the FHA route?We are open to any ideas you might have!-Paco and family by paco242511 from Miami, Florida. Sep 10th 2009 Reply

Marco Sepulveda (mspulveda)
#199 ranked lender in California - 5 contributions

Hi Paco.FHA is the only program available with a low downpayment.Also you i can find you a conventional lender with a 10% down ,but i will required a 680 fico and up.Please let me know if i can help you.My name is Marco Sepulveda,my number is 925-207-4933 and also you can e mail me at you and good luck.

Sep 10th 2009
Ellen Davis (Ellen Davis)
#2 ranked lender in Maryland - 7 contributions

PacoThere are several options available for your situation and yes FHA is one of them. Contact me directly at and include your phone number so we can discuss what is available. Thank you.Ellen Davis

Sep 11th 2009
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