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Do I have to get an FHA mortgage if I’m only putting 5% down on a house? (Condo in NJ)?

I am a first time home buyer and am curious, do I NEED an FHA loan for buying a condo in NJ?

Thanks,
Dave
Are the rates higher for FHA loans? We have 5% to place down and we don't want to get slammed with a high rate. Thanks,
Dave

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This entry was posted on Saturday, May 30th, 2009 at 9:18 pm and is filed under FHA Mortgage. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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One Response to “Do I have to get an FHA mortgage if I’m only putting 5% down on a house? (Condo in NJ)?”

  1. starrfyrre says:
    May 30, 2009 at 9:18 pm

    There are certain requirements when using FHA to buy a condo. Here is the link that will tell you if the property you are interested in buying will qualify.

    http://www.fhainfo.com/condos.htm

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Tags: buying a condo,  fha loan,  FHA Loans,  first time home,  first time home buyer,  time home buyer, 

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