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  1. #1
    Will work on YOUR ski for FREE! GeoRXT's Avatar
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    Loan Brokers? I need Mortgage help...

    I've had a mortgage guy for a while but after receiving a great offer the bank decided to screw us with a $206/month PMI.

    Can anyone suggest a decent bank willing to finance 100% on a Stated application?


  2. #2
    Pettee's Avatar
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    PM sent.

  3. #3
    mr_y's Avatar
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    you can also do 2 loans:

    1 for 80% and another for 20% to make up the difference in the PMI. well worth it, even if the second loan is a little higher interest.

    I imagine most any lender will do that for you if you have decent credit

  4. #4
    qbzonk's Avatar
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    I get to drop my PMI in two weeks, but not a huge savings, just $100, but it's better than nothing.

  5. #5
    Will work on YOUR ski for FREE! GeoRXT's Avatar
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    Quote Originally Posted by qbzonk View Post
    I get to drop my PMI in two weeks, but not a huge savings, just $100, but it's better than nothing.
    How did you managed that? The offers I've gotten are for $185+ PMI

    Best offer so far is an 80/20 6.5% and 9.74% respectively.

  6. #6
    Pettee's Avatar
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    Geo- Got another PM

  7. #7
    Will work on YOUR ski for FREE! GeoRXT's Avatar
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    Thanks a lot!

  8. #8
    qbzonk's Avatar
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    Quote Originally Posted by GeoRXT View Post
    How did you managed that? The offers I've gotten are for $185+ PMI

    Best offer so far is an 80/20 6.5% and 9.74% respectively.
    I refinanced two years ago. I was able to drop my PMI after I had 75% LTV, so come April, I am there.

    Ask about the restrictions associated with trying to drop PMI at a later date, most companies will have some sort of penalty. Mine was the "substantial improvement clause".

    Anyone can figure out their LTV. Mine happened to be %62, but when I submitted $21K in home improvements that I did, they said my new LTV was 78%. It was a bunch of BS. They couldn't tell me how they calculated it, but yet I didn't meet this requirement, but come April it would have been 2 years since my re-fi, so then the "substantial home improvement clause" disappears.

    I have Chase Mortgage BTW.

    Hope this helps.

  9. #9
    MR. SCOVILLE UNIT SUCKMYWAKE's Avatar
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    geo, get with board member pettee. he'll point u in the right direction

  10. #10
    MR. SCOVILLE UNIT SUCKMYWAKE's Avatar
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    man i should really read some of the replys first. i see he already contacted u

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