mortgage loans

[krrish4u]

experts suggestion

anyone took dcu 3% down no pmi mortgage....20% down lekapothe what are other best options & suggest banks for better rates

[tamu]

9 minutes ago, krrish4u said:

experts suggestion

anyone took dcu 3% down no pmi mortgage....20% down lekapothe what are other best options & suggest banks for better rates

Tapadu tesukovali

[soldier]

1 hour ago, krrish4u said:

experts suggestion

anyone took dcu 3% down no pmi mortgage....20% down lekapothe what are other best options & suggest banks for better rates

Aha option unte eppstiki mast famous ayide gaa 

 

[Jilchika]

I don’t think you can avoid PMI until your equity in the House reaches more than 20%

[pandemkodi]

Try piggy back but you have to down 10 or 5 

80-10/10 or 80-15/5

[AFDB_Director]

9 hours ago, krrish4u said:

experts suggestion

anyone took dcu 3% down no pmi mortgage....20% down lekapothe what are other best options & suggest banks for better rates

You can't avoid PMI. If you take no PMI option, then they will recoup that with higher interest rates. If you take piggy back loan, the smaller loan will have higher interest rates which will negate any advantage. 

Best thing to do is take a 30 yr conventional loan. You can put just 3.5% with PMI. PMI would be around $100-150 for a $300k-$400k loan. But after you house appreciates and LTV becomes less than 80% there will be no PMI. 

[neekunuvvetopu]

There is something called USDA loan which doesnt have pmi, but - it is applicable only in certain areas and other requirements  Also, I wouldn't recommend FHA loan as 1.75% of the loan amount will be added to the principal (which lot of people doesn't have any clue about) which you will loose when you refinance.  The best bet would be 5% conventional and explore ARM's if you are willing to take risk.

[afdbuser]

Try sofi. No pmi If you can do 10% down.

[granu]

1. sofi loan is on line bank or can we walk in an talk