If you went to school a little while back and your rates are really low, maybe there's a little less urgency there.More importantly, if you're in public service, I pretty sure there's something called the Public Service Loan Forgiveness (PSLF) program.

To be an FHA direct lender you need to meet the following requirments: 1)Certified original audited financial statement with adjusted net worth of at least $250,000 that has been prepared within the last year.2)A senior corporate official showing at least 3 years of experience handling FHA affairs (loan origination and servicing background) 3)Multiple credit and background checks to verify legitimacy of the heads of the institution.4)$1 million warehouse line of credit or equivalent funding program to show liquidity and lending power.5)Business plans, quality control plans, E&O insurance policy, sanction letters, fidelity bonds and other formalities to provide security.As you peel the onion it makes more and more sense why some lenders offer certain services & products and why others simply don't qualify to do so.

I recently made contact with Phil Pustejovsky's 'FreedomMentors' real estate mentoring program.

I did not fully commit to their mentoring program because they pitched too hard and because I lacked sufficient capital to purchase the only program I felt was worth something to a person who knew absolutely nothing about real estate: $22,000.

One is a CA tax proposition, the other is a federally funded housing program administered by local housing authorities.

Speak to the folks who run the culinary arts programs in your area.

Rockwell has a good program.

The school you choose and the program you get into makes all the difference.  

HOA investment programs give the investor tremendous leveraging power in purchasing distressed homes.

If that is the case I'd talk to some other lenders.If you don't refi the existing FHA you won't be able to use that again, but that should not keep you from using a conventional program that would allow for a lower DP.