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Updated over 7 years ago,
FHA Mortgage Question
New investor in the DFW market, looking at buying my first house back within the next year or so (either a SFH with room mates or a duplex).
I currently have about 50k saved up and have some questions regarding the available financing.
My plan was to use a FHA loan and put 3.5% down as a down payment, my credit score is around 800 and I have no outstanding debt.
1. What would be a realistic interest % I could obtain on a loan like this? 3.9-4.1%, or is that too low?
2. What would be the best place to obtain a loan like this? I have an account still open with a local credit union I used growing up but would like the best possible rate and assume big banks like WF and Chase are a no go.
Any other advice for a new investor would be appreciated, thanks in advance for your help!