FHA or FHA Plus loanA few months ago I went to a bank to see what I would have to do as far as getting my stuff together to get a FHA loan to buy my first house. My credit was better than I expected, and was told in order for me to get a grant I just need to save up the 1% and come back. Well that time has come and I am ready. For some reason that bank did not have anything in the system regarding when they preapproved me. I had found a house, found a realtor, did everything I was supposed to do, but I had lost the pre approved letter they sent me because it has been a few months. I got my realtor to call the bank to get another one. Well, there was nothing in the system about me in there. My realtor thought that was kind of weird how they didn't have anything in there about me anymore. This was on a Sunday and banks were closed but my realtor got ahold of someone she knew at another bank, so I called them, got pre approved, got a letter, etc. The first bank was just a FHA loan, but this bank wants to do a FHA Plus loan. I am not familiar with the difference in the two. The price of the house is $128,500 and I am putting $1,500 down to get the grant. The seller is paying closing costs, so is there really a need for the FHA Plus loan? I thought that was for people who needed extra money down? My credit score is 722. I know I can ask these questions to the bank who is doing the loan, but I wanted other opinions(someone who wasn't just trying to get my money and give me a loan if you know what I mean). The interest rate is 4.5%. Any other information you need to help me more just ask. This is all new to me.January 24 2014 - US00YesReport 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.