Here’s the secret to getting a lower monthly payment — even if your credit or down payment isn’t perfect.
Most homebuyers don’t realize this, but if you have average credit and a small down payment, you might actually get a better deal using a government-backed loan like FHA, VA, or USDA.
Let’s say you’ve saved 3.5% for a $600,000 home. With a conventional loan, the combination of a higher rate and expensive mortgage insurance can drive up your monthly payment.
But with FHA, that same buyer could end up saving roughly $375 a month — simply by using a different loan program.
I recently helped a buyer in this exact situation. We used an FHA loan, and their monthly payment came in significantly lower than what they were initially quoted with conventional — saving them thousands every year.
You don’t need perfect credit or a massive down payment. Let’s run the numbers and find out what’s possible.
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I’m Chris Graves, and that’s your mortgage minute.
📞 978-376-5389 | 📧 [email protected] | 🌐 chrisgravesmortgageexpert.com
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