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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)
#200 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 mspulveda@gmail.com..Thank you and good luck.

Sep 10th 2009
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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 edavis@mortgagelinkhome.com and include your phone number so we can discuss what is available. Thank you.Ellen Davis

Sep 11th 2009
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