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Reply to "Which home financing option should I choose?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]OP again. Thank you everyone for weighing in, I appreciate it. Purchase price is 775k. [/quote] So, a 90 percent mortgage would be $697k. Have you considered a PenFed 5/5 mortgage? https://www.penfed.org/55-Adjustable-Rate-Mortgage/?WT.ac=1021 -- not sure if they require 20% down for that or not. I also don't understand why you're not doing an 80/5/15 under your conditions. 80% would still be under conforming. And it would make a smaller second trust for you to attack and pay off. [/quote] But would the 80/5/15 involve PMI? The other 2 options don't, which is what both lenders were trying to avoid.[/quote]
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