Asked by Dan, Queens, NY • Thu May 28, 2009
I am buying a two family house in Queens, Ny and have 13% to put down. I am getting rates almost a full point higher with putting 13% down, as opposed to 20% down(plus the added cost of PMI). The seller is willing to finance the 7% as a second mortgage at at great rate for me. My question is with the tighter lending standards, will the banks allow this?
Real Estate in Queens
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