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Mortgage Questions...Help pls.
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qtptootie
I'm Getting Teeth!!!
Member since 4/06 1307 total posts
Name:
Nicole
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Mortgage Questions...Help pls.
What is the deal with no money down mortgages?? Has anyone tried this??
Also, can you refer a good mortgage company? DH and i are looking to get pre-approved if possible. Being in NC though, alot of builders finance you themselves but we want to have our options....
TIA!!!
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Posted 3/21/07 11:44 PM  |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Mortgage Questions...Help pls.
I went thru Bank of America, we put $$ down though.
however, if you have good credit, you can get 100% financing. you can either take out two mortgages (the second one, for 20% of the purchase price, is usually at a higher interest rate) or pay PMI-
or you can find programs that may waive PMI (we did - thru a program bc FH is a city teacher)
I would recommend the Long Island Housing Partnership, but since you arent on LI - I would see if there are free clinics in your area.
good luck!
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| Posted 3/22/07 6:04 AM |
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bikramaddict
mommy-to-be
Member since 8/06 4376 total posts
Name:
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Re: Mortgage Questions...Help pls.
i have 100% financing and i'm pleased. i have 2 loans, both of which are fixed rates thru Citimortgage (though I worked with a broker that I would NOT recommend -- FM me if you want to know the company.) It's an 80/20, so there's no PMI but yeah, the rate on the second loan is higher.
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| Posted 3/22/07 3:28 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Mortgage Questions...Help pls.
my husband company is doing 100% loans- and 100% FHA loans as well
I think he is lic in North Carolina- I know there are lic in 41 states- I am just not sure which ones
FM me if you want his info- he is a banker not a broker- he works for e home credit
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| Posted 3/22/07 3:49 PM |
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Nicole728
My Happy Girl
Member since 7/06 8198 total posts
Name:
Me
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Re: Mortgage Questions...Help pls.
Posted by Meaghan729
I went thru Bank of America, we put $$ down though.
however, if you have good credit, you can get 100% financing. you can either take out two mortgages (the second one, for 20% of the purchase price, is usually at a higher interest rate) or pay PMI-
or you can find programs that may waive PMI (we did - thru a program bc FH is a city teacher)
good luck!
I agree! My DH works for a Mortgage company so we did it through his company so even though we didn't get builder incentives, we got a low intrest rate...however, our builder did pay $1000 of the $1500 closing costs, so that worked 
You can def look into local banks or if you want the number to a local loan representive from DH's company let me know I'll FM you the info!
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| Posted 3/22/07 5:47 PM |
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