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Updated about 9 years ago on . Most recent reply
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Switch current fha to conventional?
Hi BP,
I recently met with the mortgage broker I used to finance my duplex with an FHA loan and asked if I qualified for another FHA because I just got married and also have a step daughter now. He said he thought they would still give me a hard time and suggested I just switch my current fha to a conventional then buy the next one fha and there should be less issues.
Does anyone have an opinion on this? I've never dealt with a conventional loan before. I read up on the requirements and I believe I have them all meet so that's not really the issue. I owe 92k appraised for 127, have great credit? I just don't know what the cons are. I also dealt like I met the requirements for another FHA having added two dependents and planning on another baby this year.
Thanks in advance, Tony