Question by alliesusan0609: We are purchasing a new const. home in NJ. With 3% down, medicine capsule is FHA 30 Yr Fixed the only option?
Good Credit
Recently sold our first home (mortgage was in good-standing)
Would have had more money to close on this house if we didn’t take such a loss on our townhouse!
Stable Jobs, doctor sales both have college degrees and still young (only 25 years old)
Best answer:
Answer by golferwhoworks
sounds like you will do fine but am I missing your question or what/
Give your answer to this question below!
Not sure of your question, but if you have excellent credit and 3% down FHA should siute you well but there are always other options. Ask your mortgage broker/banker. You can purchase Private Mortgage Insurance instead of going FHA, you can seek seller financing, you can do a 15 year fixed, you can do variable rate, you can do fixed rates with shorter ammortization and a balloon payment….always lots of options, but usually only one or two that best suite your particular needs.