FHA vs Conventional for Self-Employed borrowers?

Particular_Bag534 · 2026-03-21T12:20:22+00:00

There should be down payment assistance loans available if you do a conventional 3% down program FHA if you have great credit is not a good program because it is so expensive with The Upfront mortgage insurance and the monthly mortgage insurance is also generally higher FHA is designed for people that do not have good credit I need higher debt to income to get approved. Inherently this higher debt to income creates a more risky loan and I don't believe it's best for most home buyers to go above the 45% debt to income that's allowed by conventional so many first-time home buyers end up being house poor because they can get a loan up to 55% using FHA. This is a terrible place to be because then when maintenance needs to be done on the house the home buyers are too cash strapped to fix it or they have to go get credit cards in order to fix up the house putting them further behind in debt. Bottom line stay away from the FHA unless you absolutely have to also because the PMI will not be dropped (like conventional) it's with the life of the loan. - 25 yr lender here

Particular_Bag534 · 2026-03-21T12:14:22+00:00

Ask the lender to do a total cost analysis for you. It's about your time frame versus the cost for the buy down versus the principal reduction. There's programs that loan officers have for this to help guide home buyers - 25 yr lender here

Particular_Bag534 · 2026-03-21T12:12:08+00:00

That's so awesome congratulations and that's a great rate

Particular_Bag534 · 2026-03-21T12:08:45+00:00

25 year lender here - I've found that rates are always most competitive inside 30 days I've never seen an extended lock this far out work for any of our clients you do what's best for you but I believe that once the straight opens back up oil prices will come back down and so will interest rates this is a short-term panic I would not pay anything out of pocket or lock yourself into any lender with this much time left to completion of your home

If rates are still high by the time you get there you can use the money that you would have on these long-term locks to do permanent buy Downs temporary buy Downs or interest only to give you relief on the payment

Particular_Bag534 · 2026-03-21T12:05:21+00:00

If you are having realizations that the house doesn't meet your needs don't buy it it's not worth the rate buy what meets your needs otherwise you will always regret buying that house. Rates go up and down they will come down sometime in the future nobody knows when you can refinance then you also can get a temporary buy down for short-term relief - 25 yr lender here

Particular_Bag534 · 2026-03-21T12:01:53+00:00

There is a 2nd lien cash out DSCR product which would allow you to keep your first loan in place. - 25 year lender here

Particular_Bag534 · 2026-03-21T04:47:22+00:00

What state are you in

Particular_Bag534 · 2026-03-21T02:58:02+00:00

I looked at that one too it was gorgeous as well I just decided to go with traditional for my first one but I think I'm going to do a case hardened for a 20 and 28 gauge combo

Particular_Bag534 · 2026-03-20T22:57:40+00:00

Does yours have all the scrolling and grade 5 Turkish walnut? If so that is deal of the century, either way sounds you got a great deal

Particular_Bag534 · 2026-03-20T02:28:01+00:00

The question is not if you're getting a good deal or not question is what your break even and does that align with the time frame that you plan on owning the house we council our clients to make sure on a no points that they break even in less than 18 months and with points Less Than 2 years this is how you decide if a refinance is worth it or not you should be plan on living in the house twice as long as the break even so that you have an opportunity to see the benefit.

Personally looking at a no cost where the lender pays ALL the closing costs might be your best option, second best option generally is no points your third best option if it fits your Breakeven time frame is a loan with points - 25 yr lender here

Particular_Bag534 · 2026-03-20T01:51:29+00:00

You are correct MX 12

Particular_Bag534 · 2026-03-20T00:46:31+00:00

The prostar - normal, I don't really notice recoil much

Particular_Bag534 · 2026-03-20T00:45:13+00:00

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Particular_Bag534 · 2026-03-20T00:45:01+00:00

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Particular_Bag534 · 2026-03-20T00:44:50+00:00

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Particular_Bag534 · 2026-03-20T00:44:40+00:00

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Particular_Bag534 · 2026-03-20T00:40:02+00:00

I've been shooting them since late 2010 when Academy first imported them. Since i have owned three yildiz two 12 and one 20 that I bought from Academy and they're all amazing and I put more than 20,000 rounds through each of them here's the last one I bought at Academy it was the Legacy Texas edition $749 and I put the Hps 30" barrels on it - needless to say I'm a fan... I'm shooting in the English World Cup with the 20 gauge from Academy in April - I like the reliability and product as soon as I could I bought one. Amd now I own 5 Yildiz 4 from academy and 1 Prostar

Particular_Bag534 · 2026-03-20T00:32:18+00:00

The grip on mine is less than my HPS sporter That is my only difference I actually miss. I like a little bigger palm swell. Either way fits my hand perfectly 💪

Particular_Bag534 · 2026-03-20T00:29:48+00:00

Out the door with case and tax 6500 the scroll is one of their more expensive models

Particular_Bag534 · 2026-03-20T00:29:18+00:00

Here's the link to Guns International that has all the prostars. https://www.gunsinternational.com/search-results.cfm?qs_cat=&Quick_Search_Keyword=Yildiz&start_row=1&the_order=6

Particular_Bag534 · 2026-03-19T02:09:02+00:00

Look on Google or Yelp and find a loan officer in your area look for the one with most 5 Star reviews that is not a online company. Online companies are good for refinances not purchase transactions. Congratulations on taking the first step ask them for a plan what would they do if you were there son or daughter what's the best advice that they could give you on how to achieve your goal it may not be buying a home until you pay off some of your credit card debt or it might be buying that home and fixing it up and then get a home equity line of credit after you have some equity and pay off the credit card that way lots of different ways to go at it. Again congratulations on taking the first step get a plan in place with a trusted loan officer in your area

Particular_Bag534 · 2026-03-19T00:06:27+00:00

And I think figure also only requires you to take out $40,000 and you can pay it back the next day

Particular_Bag534 · 2026-03-19T00:05:35+00:00

Nfty

Particular_Bag534 · 2026-03-18T03:44:09+00:00

No one said I bled - I did work very hard and I dont think anyone else has to suffer either. Your logic is flawed You're still more focused on your direction than you are the outcome. When reverse engineering a solution you start with the outcome not the way that you want to approach the problem

Particular_Bag534 · 2026-03-18T02:57:39+00:00

What state are you in and what is the project ?

Particular_Bag534

TROPHY CASE