house buying peeps

[ZachMan]

Okay I live in a town home and have a 80/15 loan and yes I do not like it because the 15% loan is a variable rate and keeps going up. I am paying 3x what the min. payment is on the 15% loan since its gone up 2% in a year.

Anyways looking to buy a new house soon and at the most looking to pay down 10%-12%. Problem is if I go with a single fixed rate loan I have to pay PMI since I won't be putting 20% down. So anyone know of other loans? or what PMI would be on a $150k house?

I could do like an 80/10 loan, but it would be the same deal I'm in now, but I wo't have the extra $$ to pay on the small loan like I do now.

sucks being single sometimes...

 

[Truk]

Check if you have access to a credit union through work or whatever. My mortgage is through Navy Federal and there was no PMI on a conventional loan as long as we put somewhere around 3 or 5% down. It was a really low limit whatever it was. I think PMI on 150k would have been around $80 a month if I remember right.

 

[ZachMan]

Check if you have access to a credit union through work or whatever. My mortgage is through Navy Federal and there was no PMI on a conventional loan as long as we put somewhere around 3 or 5% down. It was a really low limit whatever it was. I think PMI on 150k would have been around $80 a month if I remember right.

Thanks, yeah I am a member of BF Goodrich CU and Americas First. You got a deal if they said no PMI on 5%.

 

[Truk]

Glad to help. Good luck with it.