A client has saved money for a small down payment and closing costs to purchase a $100,000 home in the city. The client is deciding whether to begin the homebuying process now or continue saving for a larger down payment.

Client Profile

Credit Score - 700

Monthly income - $3,000

Savings - $15,000

Types of Loans - LTV (%)

Traditional conventional loan - 80%

Conventional/piggyback - 80%/10%

Conventional loan - 90%

FHA loan - 96.5%

Which loan type would provide the highest monthly payment, assuming interest rates and other factors are equal?