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re: Question About PMI/Home Buying (Update on pg 3)
Posted on 4/10/13 at 3:08 pm to LETSGEAUX2
Posted on 4/10/13 at 3:08 pm to LETSGEAUX2
quote:
LETSGEAUX2
You can get an FHA loan. The PMI is pretty high and just became permanent for the life of the loan.
You can go with with single payment PMI, and pay for it out of pocket, or go with slightly higher rate, normally around .375% higher, but with your scores, the rate will probably be about .500-.625 higher to get out of monthly PMI
You can work with a credit cleaning company, many are bogus, but the folks at www.640.com are pretty legit and have helped a few of my clients.
Rural Development was mentioned, but you seem to make too much money for that program.
2
Posted on 4/10/13 at 3:15 pm to novabill
quote:
You can go with with single payment PMI, and pay for it out of pocket,
How much are we talking up front on a $275,000 home? If I put 10% down, I might be able to cover it up front.
quote:
folks at www.640.com are pretty legit
This website doesn't work. Is this correct?
Posted on 4/10/13 at 4:29 pm to novabill
quote:no it didn't
The PMI is pretty high and just became permanent for the life of the loan.
that doesn't kick in until June and that is not for all FHA loans
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