CA Mortgage Question (PMI, loan, loan, purchasing) - Mortgages -Lenders, loans, financing, rates, foreclosures, short-sales, brokers, credit score, deed, lien, refinancing, borrowers - City-Data Forum

Outdoorfanatic1 · 11-05-2012, 05:52 PM

Hello Everyone!

I'm purchasing a new house (770+ FICO Score, Great DTI Score, No negatives etc etc). I'm looking to put 5% down NON-FHA and I'm curious if any NON-PMI programs exist? Is there any way to get around paying PMI or into an impound account?

nationwidelender · 11-07-2012, 10:15 AM

You could pay PMI in advance or do a piggy back mortgage.

Outdoorfanatic1 · 11-07-2012, 10:31 PM

Quote:

Originally Posted by nationwidelender

You could pay PMI in advance or do a piggy back mortgage.

Thank you! I didn't realize you could pay up front. For the entire loan or do you have to pay per year? How do the rates or a piggy back loan fair vs. current market?