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What's the difference between a regular loand and an FHA loan?

by john13 from , . Aug 24th 2009 Reply

Al and Cindy Lane (Al Lane)
#1 ranked lender in Washington - 38 contributions

Enter your answer hereA regular loan will require 5% to 10% down depending on the area compaired to the 3.5% down FHA requires. Also a regular loan over 80% of the value requires Mortgage Insurance. An FHA Loan has an upfront fee of 1.75% and a smaller amount of monthly Mortgage Insurance. Additionally depending on your credit score and the amount of money you have to put down it could be easier to qualify for and have a lower interest rate.

Aug 24th 2009
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