1.) 1 1st and 2nd combo
2.) 1 loan at 90% LTV with lender paid MI included in rate, and some rare ones have none at all
as far as I know right now, this is up to $1Mil and a couple go to $1.1Mil
1) You can take a loan with lender paid mortgage Insurance up to 97% loan to value!! We underwrite these as a Direct lender.
2) We issue 80/10 purchase loans which is a first mortgage with an Equity line behind it up to 90% of the purchase price, all the way up to $1 million. This is a great option!!
3) If you are a veteran you can get 100% financing with no monthly MI.
4) You can pay a one time borrower paid Insurance premium (BPMI) and mitigate the need for monthly mortgage insurance.
I recommend the first to options but as you can see, you have several ways to make this work and I'd be happy to help you qualify. We offer 24 hour purchase approvals and can close in as little as 14 days.
If your are looking to sell and need top dollar for your home feel free to give me a call, I might be able to get you more than you think for your home
Perhaps you can get a small line of credit on your rental property to make up for the 20% you need, thus saving the PMI . Since you are in an equity position on those rentals, that may be a possibility. Another option may be to refinance one of them if you haven't already.
I have a application that would give you the information about your home so you can decide whether to stay in your home or to sell it. When you see what you gain in the next 5, 10 years to recoup your lose You will be able to make an informative decision based on several types of information and what you want to accomplish . contact me for further details.
Talk to you soon
Ingrid Ski Realtor
I'm a Mortgage Banker.
Have you considered refinancing the property under HARP 2.0? The federal program came out March 18th and expires December 31st. This program is geared to folks like you.
Feel free to call my cell direct to discuss options.
Best of Luck.
Castle & Cooke Mortgage
Newport Beach, CA
I talk about this with owners wanting to sell all the time. If you think you'll hold onto the primary for maybe another 3yrs, the housing market will likely not be recovered by then. You may find that if you want to move & you can get out now & go buy the home you REALLY want in Aliso Viejo & stay there for 10+ yrs with the Super Low interest rates that are available today, this will be more beneficial for you vs. waiting.
I'm not a psychic, I can't tell you where interest rates are going to be in 3yrs. They could be at 6.5% OR you could get into the new Primary Now & do that for under 4%.
Please shoot me an email directly so I can talk to you about how many defaulting owners around your primary residence there are & if this is going to hurt home values in your area & for how long. I don't look back on this same Trulia posting for answers after mine.
There are loan programs available where there is no PMI by putting less than 20% down.
Realtor Since 1996
Main Street Realtors
20% may not necessarily be required nor Mortgage Insurance. There is the middle of the road...Call me to discuss the details and get you into your New Home in time for the Summer ! I fear that you'll continue to be in the same predicament as the market recovers, for the increase value of your home means a higher purchase price...
Call me for a sensible approach.
Most Kindest Regards,
KELLER WILLIAMS REALTY
JD Power & Associates Ranked #1 Buyer Satisfaction 2008, 2009, 2010
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