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Posted in Mortgage
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jimbo06

5 Contributions
1 Person Helped
Trying to buy a home
Hi all im looking to purchase my first home and was wonderin if anyone could tell me who to contact first a bank or real estate agent? Also which is better a FHA loan or conventional? Is any easier to get approved for? thanks

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5 Contributions
4 People Helped

ChicagoBoss is right to contact your lender first. I would contact more than one and choose the one that fits you best. Pulling your credit for a loan through a few lenders will not effect your scores as in the old days. Laws have changed to allow borrowers to shop. I would also look for a conventional vs FHA if possible. No upfront MI and lower monthly MI. FHA MI (Mortgage Insurance) stays for the life of your loan. A conventional loan with MI, the MI drops off @ 80% Loan to Value and no upfront MI fee required.

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