03-14-2007, 07:55 PM #1
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?
03-15-2007, 11:09 AM #2
03-15-2007, 02:00 PM #3
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
03-15-2007, 06:07 PM #4
I get to drop my PMI in two weeks, but not a huge savings, just $100, but it's better than nothing.
03-15-2007, 08:33 PM #5
03-15-2007, 10:03 PM #6
03-15-2007, 10:06 PM #7
03-16-2007, 06:37 AM #8
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.
03-17-2007, 01:38 AM #9
geo, get with board member pettee. he'll point u in the right direction
03-17-2007, 01:39 AM #10
man i should really read some of the replys first. i see he already contacted u
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
By CRS in forum 4-Tec PerformanceReplies: 13Last Post: 05-15-2006, 05:24 PM
By amirmiz in forum 4-Tec PerformanceReplies: 14Last Post: 03-04-2006, 07:24 PM
By MARKUS in forum 2-Stroke PerformanceReplies: 21Last Post: 02-09-2006, 05:18 PM
By Jeff C in forum Sea Doo Open DiscussionReplies: 2Last Post: 11-16-2005, 04:03 PM
By seadawg in forum 4-Tec PerformanceReplies: 4Last Post: 10-30-2005, 04:32 PM