getting FHA rate if I have 721 fico and 5% down?
Putting the extra cash down does not affect your rate. I suggest just doing the minimum. I would think 4-4.25% would be a fair rate in this market depending on the loan size. Had you considered the Rural development loan? Zero down payment. Also the guaranteed monthly fee is 70% cheaper than the FHA PMI. Also...

how can i know if i'm in a usda eligible area?
hi please go to this link here. http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfp&NavKey=property@11I do a lot of Rural loans...

I have a credit score of 629 can i get a FHA loan ?
Yes you can. We can go down to a 620 score. 3,5% down payment required. I can have a pre approval for you in about 20 minutes. Give me a call. Victor Bals - Manager Huron Valley Financial 734-417-2115