Conventional loans have several advantages over FHA. There is no up front mortgage insurance premium. Second/Vacation homes are permitted with 10% down. The monthly mortgage insurance is significantly lower, even if you only put 5% down. And, an FHA/HUD foundation is not required....though many lenders (not the ones I use) require an FHA/HUD foundation on conventional loans too. Conventional loans are tougher to qualify for though. So, when I prequalify a borrower for a manufactured (or regular) home loan, I start with the possibility of closing a conventional loan first....and then move to FHA if necessary.
General Questions? Use the comments section provided. Call if you have any specific loan scenario questions.
General Questions? Use the comments section provided. Call if you have any specific loan scenario questions.
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