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Started By
Message
re: Question About Home Purchase,PMI, and Appraisal Value
Posted on 9/13/12 at 12:06 pm to dillpickleLSU
Posted on 9/13/12 at 12:06 pm to dillpickleLSU
quote:
offer them 205 but with a 40K seller assist. I think there is a limit and you won't be able to do 40K seller assist to get you out of PMI, but you follow where I'm going..offer above the 165 but with the extra as a seller assist.
I excited.
quote:
that type of loan does not exist anymore.
I not excited no more.
2
Posted on 9/13/12 at 12:23 pm to SLafourche07
Try to do an 80/10 to avoid PMI.
Posted on 9/13/12 at 1:39 pm to SLafourche07
sorry but home loans these days are not complicated you cant think outside the box. Also people are to scared of PMI. if you are putting 10% down and have a credit score above 740 PMI is not that expensive. i just closed a 170k purchase and the customer put 5% down and had a 750 credit her PMI payment on the loans was $125 a month..it would have been double that if she would have gone with a FHA loan. talk to a mortgage banker and get some real numbers it will help your decision making alot. 2nd mortgages have higher rates so it may not make since to take out the seo
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