Allen Mische's Q&A

If your mid-score is 620 or higher, a VA loan will be the best option. 

There is plenty of time for you to choose a different lender.  You should save thousands of dollars in unnecessary fees.  But you should act quickly.

You will have to provide the personal federal tax returns (with all schedules), recent paystubs, and W2s.  If your self-employment is showing a loss on your tax return, then all lenders/underwriters will count this against your monthly income.  It would be considered misrepresentation to not disclose the self-employment.

You should see what the appraised value comes in at and then make a decision.  PMI factors are different at 85%, 90%, and 95% LTV (Loan to Value).  At 85% LTV, the PMI may be so low that you may decide that this LTV with PMI is benefical to you and you can use your savings for other purposes.

Also, interest rates on a FHA loan are not as credit score sensitive as Conventional loan rates are.  For example, if you had a 660 FICO score, the FHA rate will be a lot lower than a Conventional loan rate.