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30 year fixed jumbo loan with 10% down and no pmi

im interested in this type of loan. my fiance has a credit score similar to mine, around 730..income is about 170k together.. by kimetodd7098234593 from Rogers, North Dakota. Mar 19th 2015 Reply


Ray Antonelli (Focused)
#67 ranked lender in Ohio - 52 contributions

You can buy out the PMI or have the lender pay the PMI but there will be a slight hit to the interest rate to compensate. If you put 20% down you can eliminate the PMI without penalty.

Mar 19th 2015
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Jericho Cherry (Jerichocherry)
#58 ranked lender in Virginia - 1,107 contributions

Ray has given you a good answer. Find a local Loan Advisor who can assist you.

Mar 19th 2015
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,933 contributions

Since Jumbo financing is a "portfolio" loan product, not every lender requires PMI for less than 20% down.. In other words.. there are no "Conforming" set of rules when it comes to Jumbo Loans.. every lender offering this type of financing can come up with their own rules.. some will require PMI while others don't.. Your best bet is to contact a local mortgage broker and apply with him... brokers have access to a whole network of lenders, with each one offering a different lending program.. the more lenders, the more lending options, and the greater likelihood of you finding your loan. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Mar 19th 2015
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Jayme Renner (jrenner@bncbank.com)
#11 ranked lender in North Dakota - 2 contributions

Hello,I would love to help you! You can either call me or I can call you?Here is my contact information:Jayme RennerBNC National Bank2711 Sunset Drive NWMandan, ND 58554Loan Originator NMLS# 1039846Mortgage Department(701) 250-3086 direct(701) 400-4688 cell(701) 355-3286 e-fax

Mar 19th 2015
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Colby Neal (ScottsdaleInsurance)
#110 ranked lender in Arizona - 71 contributions

National direct lender... PMI will exist unless you're applying a 20% down payment.

Mar 19th 2015
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Timothy Howard (timehoward)
#70 ranked lender in Utah - 150 contributions

I would look at doing an 80% first mortgage, a second mortgage for 10% and then do the 10% down payment, this also would get rid of the PMI.Also, FHA has a program 100% financing, no PMI. Rates are usually 1 point higher

Mar 19th 2015
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,107 contributions

There are Jumbo loans with 10% down and no MI, I do them in Colorado so I'm sure their is solution for you in North Dakota. Typically having a score above 740 is the key though. You should speak with a local loan officer'(s) that offer this product and see if you qualify for this program. If you do end up needing the 740, there may be a simple solution of paying down some credit card debt to get your score increased. Best wishes, Sean

Mar 21st 2015
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Bill Cook (loanpro)
#636 ranked lender in California - 43 contributions

We have that jumbo product up to $1.4 Mil depending on the state. If North Dakota, yes it's available with a 730 score or higher and adequate liquid reserves. It will be a combo 1st and 2nd or you can opt for one loan at 85% without PMI.

Apr 6th 2015
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