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Reply to "mortgage with no pmi and 5% down?"
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[quote=Anonymous]I have no details, but NASA Federal Credit Union has had an ad on their site for some time for 100 percent financing. Perhaps that is a rock to kick over? We got our original FHA loan through NASA FCU and just refinanced on Monday to get out of the FHA loan and into a conventional loan (bye bye mortgage insurance). We like working with them (sadly, they will sell the servicing immediately to a larger bank). We ended up with significant equity in the house through a combination of payments and a major home improvement project, but most of all neighborhood appreciation. I never want to go back to feeling like I own only 3.5 percent of my house. However, I know the feeling very well of just wanting to get into home ownership and the frustrating of feeling locked out. Good luck -- just make sure you are taking into account the mortgage insurance and any costs to refinance (if you will need to refinance to escape the PMI). [/quote]
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