Posts Tagged "$550K"

10% down on a $550K home, must I have an FHA loan?

on Aug 7, 2012 in FHA Information | Comments Off on 10% down on a $550K home, must I have an FHA loan?

Question by Buckeye: 10% down on a 0K home, must I have an FHA loan? I got pre-approved for a fixed rate 30 yr loan from coldwell banker mortgage services. They says that for a $ 550000 home with 10% down, I need to get an FHA loan, but with 15% down I do not need an FHA loan. The sellers however don’t like buyers who are using FHA loans. My question is that is it possible to get a non-FHA loan with 10% down? I am fine with both fixed rate and adjustable rate mortgages. I have a 770+ FICO credit score. Thanks! Best answer: Answer by R. GuetiveStay away from Coldwell mortgage services. THEY DO NOT GIVE YOU THE BEST RATES Shop around for better rates.. Wells Fargo.. your local bank. You have a good FICO score. I bought a house similarly priced with 9% down and was not forced to go FHA What do you think? Answer below! 10% down on a $550K home, must I have an FHA...

Read More