I have a FICO credit of 689, can I qualify for an FHA home loan?

Tom,Yes, you should be able to purchase this home with a FHA loan, but I think with your down payment you could purchase this home with a conventional loan. FHA requires at lease 3.5% down of the sales price ($6,125.00) however they are going to charge you mortgage insurance. On a conventional loan the down payment is a minimum of 5% ($8,750.00) and the mortgage insurance cost is a lot less. Please call me I would like to at the whole picture before we put the puzzle together. David Kester 480-284-5254 davidkester@cox.net.

Tom, FHA financing will be an option. You may benifit more going with a conventional loan but until I know all of the details FHA my be the better option. If you would like to discuss the details a compare both of these options feel free to give me a calll at 602-531-7040. Thank you and I look forward to speaking with you soon.

Hey Tom... There are programs out there for FTHB, however you have sufficient funds (FHA required 3.5% down). It looks like your credit is good and you have good income. Contact my office... we're licenced in Arizona and located here in Scottsdale, WilliamAcres.com

You could go either conventional or FHA. Conventional loans typically have pricing adjustments for things like LTV, Credit Score and loan amount. With less than 20 % down, Mortgage Insurance will be required, but conventional allows several methods to obtain it. Up Front, monthly, or combined. FHA has an Upfront and a monthly component and rarely have any pricing adjustments. Another benefit of FHA is that the loan is assumable and could also be refinanced at a later date using the FHA streamline refinance program. The best way to determine which makes the better choice for you is in the details. My advice is to contact a local Mortgage Banker/Broker, (like me) rather than one of the big banks. NOVA is based in Tucson, and unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination (I am) He/She will have access to loan products of many lenders, not just those of one bank, and can properly guide you. But more importantly, He/She is trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. After all, you are the one making the payments, don't you want to make sure you have all the facts to make the right choice. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

Hello Tom,Yes you sould.If you can give me a call at: 1-888-856-2831 ext.1 and let me get you started.