Zillow Advice RSS: Question-Discussion-Guide,Mortgage Types,RI http://www.zillow.com/advice/RI/mortgage-mortgage-types/question-discussion-guide/mortgage/?s=0 Zillow Advice search results | Zillow Real Estate Mortgage loan with 10-15% Loan and no PMI? Is it out there? http://www.zillow.com/advice-thread/Mortgage-loan-with-10-15-Loan-and-no-PMI-Is-it-out-there/582551/ You're not allowed to take out a personal loan for any part of the mortgage for the down payment or closing costs. You also cannot cash advance your credit cards. You could possibly get a gift from a family member or borrow from your 401(k).<div><br/>Or you could keep your down payment as it is and get an LPMI loan, which is short for "lender paid mortgage insurance". A lender would build the mortgage insurance into a slightly higher interest rate. It actually works out quite well. Let me know if you have any other questions.&nbsp;<br/></div><br \><br \>0 replies Sun, 12 Apr 2015 17:13:00 GMT http://www.zillow.com/advice-thread/Mortgage-loan-with-10-15-Loan-and-no-PMI-Is-it-out-there/582551/ 2015-04-12T17:13:00Z Mother wants to sell me her house via gift of equity. She lives in Rhode Island. http://www.zillow.com/advice-thread/Mother-wants-to-sell-me-her-house-via-gift-of-equity-She-lives-in-Rhode-Island/459126/ My mother lives in Providence and wants to move near me. &nbsp;She wants me to buy the house from her because she is willing to sell it to me at price that would make it worth my effort.&nbsp;<br/><br/>I really have to interest in ever living in the house, and I would need to rent the house. Finding tenants is not a problem, the problem is that if I do this, I need it to be painless and do not plan on putting a dime into the whole process. I have family who live in the area and they are committed to keeping tabs and dealing with any repairs in my absence.<br/><br/>I have owned investment property in the past, but have since sold them.<br/><br/>Are there any mortgage programs that would allow me to purchase the house from her? It's been appraised at 150k a little over a year ago, Zillow says 115k, but my mom would be willing to do a gift of equity all the way down to what she owes on her house which is in the neighborhood of 40k, but she would prefer 70k so give her downpayment money on new space near me. My credit score is in the in mid 650's, due to recent loans that I have&nbsp;acquired(I wasn't expecting this to come-up), and &nbsp;with no lates/issues for the last 4 years. ( I did do a deed-in-lieu&nbsp;back in 2008 but have since purchased another house). Is this a viable option for me?<br/><br/>At most, I can likely contribute close to 5k to the transaction, but I rather not put anything down.<br/><br \><br \>3 replies Sat, 08 Sep 2012 17:53:00 GMT http://www.zillow.com/advice-thread/Mother-wants-to-sell-me-her-house-via-gift-of-equity-She-lives-in-Rhode-Island/459126/ 2012-09-08T17:53:00Z