10% down no PMI?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I just did 10%, no PMI, 3.70% 30 year fixed on a jumbo in DC. It's possible, but at least in my case, it was through a company deal.

We had the money for 20% and were way over qualified for the size mortgage but we like to keep 100k liquid savings for emergencies and we wanted a very generous amount of cash for renos since it's an older house.

+1 — our exact situation. Purchase price of home was $1.5 million. 10% down, 3.75%, no PMI, no second mortgage. We got a 90/10 through Capital One. But again, company deal, so not sure the same financing is widely available.

to earlier poster (@08:54) re: Jumbo Loan comment - isn't the above a Jumbo loan as well?

[Anonymous]

Anonymous wrote:How is everyone putting down under 10% with no PMI? Both hubby and I have A+ credit, have around 15% down for houses between 800-900K. We will put in all our cash reserves, but would have considerable investments to fall back upon. However we can't avoid PMI unless we take a HELOC. Have tried Prosperity and Apple FCU

I put zero down with no PMI with NASA FCU. I just paid closing costs. (I’m the PP who first mentioned NASA FCU and Navy Fed.) All they required is a high credit scare and low DTI.

[Anonymous]

Anonymous wrote: I put zero down with no PMI with NASA FCU. I just paid closing costs. (I’m the PP who first mentioned NASA FCU and Navy Fed.) All they required is a high credit scare and low DTI.

Can anyone apply to NASA FCU & NAVY Fed or is there certain criteria? We're both A+ credit scores, but do have around $200K balance from our earlier mortgage. The house is worth 350K and and will rent for 1.5 times the current mortgage. Other than this mortgage and a car loan (under 30K) we have no other debt with annual income around $200K.

[Anonymous]

Anonymous wrote:How is everyone putting down under 10% with no PMI? Both hubby and I have A+ credit, have around 15% down for houses between 800-900K. We will put in all our cash reserves, but would have considerable investments to fall back upon. However we can't avoid PMI unless we take a HELOC. Have tried Prosperity and Apple FCU

Some probably have lender paid PMI which means a higher interest rate.

[Anonymous]

Anonymous wrote:

Anonymous wrote: I put zero down with no PMI with NASA FCU. I just paid closing costs. (I’m the PP who first mentioned NASA FCU and Navy Fed.) All they required is a high credit scare and low DTI.

Can anyone apply to NASA FCU & NAVY Fed or is there certain criteria? We're both A+ credit scores, but do have around $200K balance from our earlier mortgage. The house is worth 350K and and will rent for 1.5 times the current mortgage. Other than this mortgage and a car loan (under 30K) we have no other debt with annual income around $200K.

As far as I know, anyone can qualify. I suggest you call, though.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: I put zero down with no PMI with NASA FCU. I just paid closing costs. (I’m the PP who first mentioned NASA FCU and Navy Fed.) All they required is a high credit scare and low DTI.

Can anyone apply to NASA FCU & NAVY Fed or is there certain criteria? We're both A+ credit scores, but do have around $200K balance from our earlier mortgage. The house is worth 350K and and will rent for 1.5 times the current mortgage. Other than this mortgage and a car loan (under 30K) we have no other debt with annual income around $200K.

As far as I know, anyone can qualify. I suggest you call, though.

Also the interest rate sucks. With an 800+ FICO their zero down option was 1%+ higher for me than 10%,20% options elsewhere.

[Anonymous]

I believe Sofi does 10% down no pmi.

[Anonymous]

Anonymous wrote:Yep, be a doctor.

+1. Husband is doctor and we were able to put down just 10% and have no PMI.