I am in the market for a new home but don’t have a lot for downpayment (I.E. 20%). I do have 3.5-5% to put down at this time. What are my options? I am a first time homebuyer and my fico scores are TU: 762; Eq: 748. I don’t have Experian scores.
I know I can get a FHA loan but for this I have to pay Mortgage Insurance. Is it possible I could get a conventional loan at 5% down without paying Mortgage Insurance?