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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Hi! I am the OP of the credit card payoff and have been offered 5% down, [b]lender paid PMI or no PMI but a higher interest rate[/b].  We're talking with Washington First Mortgage, United Mutual Funding, and Sebonic.  Quicken also offered it to us.

Of course, we haven't made an offer on a house yet, so there are lots of variables here.  [/quote]

It's still PMI, just a different way.  The lender paid PMI is a lump sum that you pay as a "fee" and the lender purchases the MI.  The higher interest rate version builds the PMI into the interest rate the lender is charging you.  [/quote]

I'm the PP.  That's exactly right.  You're still paying more for the bank to loan us money.  But for the amount of time it will take us to save $100,000 for 20% down, it's worth it for us to take the higher interest rate today, if we can find a house! [/quote]

Ditto. 4% isn't too bad for me, and my current house is 3.625%, which I still consider a good rate.[/quote]

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