Financing in Norwalk>Question Details

Scott Jacobs…, Home Buyer in 07645

Can I still get an 80-10-10 or an 80-15-5 in CT or are these extinct?

Asked by Scott Jacobson, 07645 Mon Jun 28, 2010

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6
Lisa Jones’ answer
Yes, you can IF all your financials are very good...I would be happy to refer you to lenders who have recently facilitated such loans in my recent closings, so call me anytime at 203-218-6664.
Happy to help!
Lisa
0 votes Thank Flag Link Mon Jun 28, 2010
My office just closed one of those. Had not seen them in a while but they do exist. Call me if you would like more details. I represent buyers all over Fairfield County (including Norwalk) and can assist you wit your search and closing.
0 votes Thank Flag Link Wed Apr 17, 2013
I have a lender that will do an 80-9-11. Although i am not 100% sure if it is ok for purchase money. If you are interersted feel free to drop me a line.

Matt
0 votes Thank Flag Link Mon Jun 28, 2010
You can get 80-5-15, but I do not believe anyone is going to 90CLTV. If you only have 5% to put down, I would consider FHA. Even with the up-front MIP fee, because the rate for the monthly MIP is so much less than the rate for the monthly PMI, you are way ahead. Besides that, in certain areas you may not be able to get PMI on 95% if it is considered a declining market.
What type of purchase price are you considering? That will make a big difference when considering this type of financing all together. If you are talking about a high end purchase, you will not be able to get as much.
0 votes Thank Flag Link Mon Jun 28, 2010
Maybe, just maybe, a local branch of Wells or B of A may do it, but the good news is that you can get up to a 95% conventional loan now.

Yes, you pay PMI but the rates are so low, it won't matter that much.

Good luck!

Fre
Web Reference: http://fglick.com
0 votes Thank Flag Link Mon Jun 28, 2010
Scott,
If you can find a lender that is willing to give you a loan like that please forward the information onto me. They have been extinct for a while now.
Good luck
0 votes Thank Flag Link Mon Jun 28, 2010
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