请教各位大佬,关于conventional mortgage 和 FHA mortgage的选择

Both of the offers are 30 yrs fixed rate, and  both loan amounts are $550,000, both downpayment are 5%;

(1) Conventional mortgage: rate 6.875%, mortgage insurance is 105;

(2) FHA mortgage: rate 6%, mortgage insuracne is 218;

 

Which offer is better? Or any other suggestion?

 

Many many thanks.

选FHA，利率低。conventional loan 还有很多隐藏的莫名其妙垃圾费用，要小心。

用贷款计算器算。10万贷款常规月供多316刀，乘系数是总差价。fha容许买家向卖家索要3%closing cost。

谢谢老朽大侠的回复, 想confirm一下,

非常感谢您的热心帮忙，再好好想一想，主要是怕

非常感谢您的热心帮忙，再好好想一想，主要是怕将来refinance时，FHA有limitation。另外看网上说，FHA的mortgage insurance将来会是个问题。

没有refi 经验。一旦有了足够净值多数人都会refi 到常规贷款去贷款保险不应有难度。link-

https://www.chase.com/personal/mortgage/education/financing-a-home/how-to-refinance-fha-loan#:~:text=FHA%20Streamline%20Refinancing%20is%20best,may%20mean%20lower%20closing%20costs.

downpayment 5%就可以贷款？这是自住房？

我问了 一下chatgpt，说是可以refi fha loan，额外的要求可能是需要证明refi确实有利比如利率下降

+1, if LTV < 80%, refinancing to conventional is easy

That’s true if still refinancing to fha,

But If refinancing to conventional, no this requirement.

FHA’s PMI will always be there

While conventional's PMI can be removed once LTV is less than 80%. Of course, you can refinance FHA to conventional to remove PMI once LTV is less than 80%.

谢谢jenning！

Thanks a lot Jenning, very helpful.

Thank you very much for the info.

Yes,

It is for primary residence, the lowest downpayment can be as low as 3.5%.... availabel for the new graduated kids.

Thanks.

羡慕利息6.85%。 我昨天得到的是8.5%，今天降了点儿，到8.125%

Lender 希望我尽快lock in the interest rate, 我觉得以后利息应该不会再涨了吧？毕竟政治因素也会影响华尔街。 所以决定再观望几天， 万一再降了呢。（我down payment 25%, 用的conventional investment loan.)