Which Option Would You Choose and Why?

General
1

Hallo people…

I’m trying to pick between two mortgage options and could use your advice. Here’s the scoop:

  • 5% Down Conventional: 7% interest rate, no PMI
  • 3.5% Down FHA: 5.75% interest rate, but with PMI

I’m leaning towards the FHA because it needs less cash to close and has a lower monthly payment. But I know a lot of people get bothered by the PMI.
What do you think? Would you go for the conventional loan or the FHA, and why?
In anticipation and many thanks… :unamused:

2

What specific options do I have available? :smiley:

3

What factors are important to consider when making a decision? :smiling_face_with_three_hearts:

4

What are the potential outcomes of each option?

5

just verify and make the difference in terms of benefits and terms then make a choice :expressionless:

6

pliz if was i was you would :face_exhaling: look at pm becoz its easy to mortgage their terms are flexible and the are lenient