Has anyone put down 10% with no pmi ? I came across the program run by SoFi. Has anyone tried this ? I am planning to buy my own house using SoFi 10 down and no pmi. Appreciate any insight, suggestions or reviews about this TC 170k 4 yoe
Looks legit. I'd love to hear more too if anyone has actually used them.
Fees fees fews aka sofi lol
It will be more expensive loan, I don’t think loans with under 20% are backed by the feds.
Can you explain what you mean by backed by the feds?
Usually it 10 down, 80 in first mortgage, 10 in 2nd or HELOC. Otherwise no other bank will touch it unless there is a nice interest rate premium.
Yep, that’s what I did. No PMI.
Wells Fargo gives 90% jumbo
Is it really worth it not to pay the PMI... It's what, 0.5%? While that adds up over 30 years, once you get 20% equity the PMI usually drops off. And if you're putting 10% down, it shouldn't take that long to get to 20
Wells Fargo has a program for 10% down but it has some specific eligibility like credit score and minimum reserves. Currently in the process of availing loan for the same and interest rates are not that high as compared to 20 down and no PMI.
Yes you can do it. Have a loan guy , can also give 5 percent down with down
VA Loans are 5% no PMI. #fewVetsHere
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