What you can do is hire an independent appraiser on your property for a fee $750-1500 to get a true idea of the value and that would be able to help you with your decision making process. 

You made the right decision.

(If I knew that another new servicer had their licenses in all of the states that we need, it would make a decision a lot easier :) )It seems fair that a lender pays for the defense and allows the servicer to tag along.

As you learn and surround yourself with like-minded individuals, you will start to put together some systems, processes, cost analysis, and other marketing research that will help you make informed decisions rather than just "a hope and a prayer".

I will definitely continue to soak up as much knowledge as I can and read all the recommended books to further educate myself to help make the correct decision. 

Hello! I’m soon to be 19 years old, I worked a lot growing up and have about 11k saved up now, but I’m in a dilemma of fortune and wanted peoples opinions. My parents have grown a pretty decent amount of wealth over t...

Personally I think if you're planning to hold this thing for 10+ years and you guys are not financially strapped to where this decision greatly affects you, lock in a great rate today and you won't even think about it 3 years from now.

Obviously, the monthly mortgage (plus tax and insurance) will change depending on the % I borrow but I wanted to get everyone's feedback before I make a decision.

I made the same decision to go with the conventional residential loan for the same reasons you listed.

Your Realtor should be advising you and guiding you so that you make the right decision on a property.