Alternative to FHA Loans after Chapter 13?I'm expecting a chapter 13 discharge this summer and I know that the FHA loan is a possibility shortly after (or even during the ch 13) but I was wondering if there is an FHA alternative to avoid the super high mortgage insurance premiums that come along with an FHA loan? I would be putting down between 10-15 percent and would love to not have to pay MI for the life of the loan as now required under FHA. Some specifics: Chapter 13, all payments to trustee and mortgage paid on timefico of 660-700160k incomesame job for years225 in retirement/savingsfew open credit cards (with minimal balances)Ideally I'll be buying a house in Massachusetts priced around 400-500k. The FHA estimator shows a rate around 4.5% with MI of around 450/month. Would there be such thing as a "not too sub-prime lender" that would maybe have a slightly higher rate but not as gouging of MI? Using the online calcs something with a 5% rate and less of MI might be a better payment but I didnt know if it would be possible to qualify. Everything I've ready says conventional financing is possible after 2 years from discharge date (FHA is possible during - after 1 year of making payments). ThanksJanuary 27 - Boston0YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.