80/10/10 mortgage or alternative to No PMI

Alameda County is in a "high balance" area and conforming loan limit is $625,500. I'm not sure of any lenders out there that will do 80/10/10.. Although there might be someone out there, i kinda doubt it.. there is also portfolio lenders where they're not selling to Fannie/Freddie, so the can have their own guidelines, and lend as they wish, but even those lenders will have CLTV requirements which would disallow this type of loan.. Up front MI is probably a good option.. if you're not already working with a loan officer (which I assume you're not, since any competent LO would have suggested Single Premium MI with 10% down), you should.. The best advice I can give you is to contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. 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. 480-287-5714 WilliamAcres.com

You can still get those as portfolio loans at some local banks and credit unions if you have an existing relationship with them...that's pretty much the only way these days.

US BANK is able to do that loan for you. Find a local lender who deals with them. They will do a 90LTV no MI loan up to a 750k loan amount. 740 minimum credit score

Hello,We would be able to do an 80/10 where we would go to conventional cap of $417K on the 1st and have a small equity line for the remaining portion so you can take advantage of conventional pricing over high balance and make as little as an interest only payment on equity line.Email me to follow up kbehnam@intercaplending.com