If I am buying $150,000 home, is 80-10-10 a good option ?
Answers (3)
Yes, it is a good option.
But you should compare FHA as well as conventional 90%
A good loan officer will compare them for you.
Web Reference: http://www.dallasloanguy.com/
hi mindy......i would consider fha if i were you......also, the below listed comment is a little misleading.....an 80-10-10 is not three loans, it is two loans with 10% down.(80% first & 10% closed end second) ...vey best regards.....bob mcclure- success mortgage partners- plymouth, michigan.....
Web Reference: http://www.loaningMichigan.com
FIRST ANSWER
no offence, but those loans a part of what got us into this mess. Are you really able/want to to handle mortgage payment on 3 loans for how many years? Many foreclosures are approved for homepath financing with only 3% down. that seems like a better option.
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