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Replies (12)
- Clay Branch, "Georgia Loans"
- Contributions:7832
- Robert Benham, "FHA down to 620 OK!"
- Contributions:776
Tool!
- Andrew Adams, "203K Specialist"
- Contributions:9349
I can actually offer LPMI to 95%....I would be shocked if CapWest had the same waiver from the MI company since it is a waiver given to community banks...I would be curious what is meant by PMI Buyout since it would be very expensive!
- Anna Montgomery, "Anna Montgomery"
- Contributions:160
I can also do 5% down with no mi
- Clay Branch, "Georgia Loans"
- Contributions:7832
Anna, what is the cost at 95% for LPMI?
- Andrew Adams, "203K Specialist"
- Contributions:9349
2.1% is what it would cost for a 740+ fico.
We would do it as a Single Premium and use over par pricing to pay the premium or have the borrower pay up front.
We would do it as a Single Premium and use over par pricing to pay the premium or have the borrower pay up front.
- greg knox, "Greg Knox"
- Contributions:80
So Andrew, what are the chances of you doing the deal as originally posted, 5.125% if you have to pay 2.1% just for the mi? A bogus quote is a bogus quote.
- Joe Cafiero, "Joe Cafiero"
- Contributions:3218
Exactly...At 5.125% there is not much room to incur that cost.
- Andrew Adams, "203K Specialist"
- Contributions:9349
That's why I was curious what was meant by a PMI Buyout?
- greg knox, "Greg Knox"
- Contributions:80
My guess is that the PMI buyout would be called points by an honest lender.
- Joe Cafiero, "Joe Cafiero"
- Contributions:3218
Just to be fair to Derek, this is not a quote that we are talking about. And actually I have no doubt the loan can be done (as evidenced by Anna and Andrew saying they can do it). Just would like to get the full details. Not happening at that rate with no points in California or some other major declining market with a 695 score
- oldskoolballr
- Contributions:158
I can't comment on this specific instance but CapWest does have a very good reputation in the KC market. They are also very aggressive with their pricing so I wouldn't be surprised if they closed a loan without your typical margin.
5.125% with no MI on 5% down
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- 4.8/5.0
- (28 reviews)
Contributions:3218I came across this review and was amazed that this program was out there. Jason and Kristin (or better yet Derek), I would love for you to come on here and tell us more about it. It looks like Derek lends all across the nation. There are a lot of us that will get inquires due to our dedication to the site from people in states that we can not service. I think we all would love to refer such a great product.
http://www.zillow.com/pro ... received/
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