What loans can I get with 10% down and no pmi?

With excellent credit and 10% downpayment your best option is likely a conventional loan (or possibly a jumbo). Depending on other details of your applicaiton you can likely either structure the loan so there is no monthly PMI payment (usually the better option to have the lowest payment) or borrow 10% of the purchase price on a 2nd mortgage (total payment usually ends up higher).

As Phil Dumochel mentions, payment often comes out better with what we call "Lender Paid Mortgage Insurance." There is no such thing as "no mortgage insurance" when putting less than 20% down except when you elect to have a second mortgage behind the first. You will get a lower rate on the first mortgage because it need not be increased for the lender to pay for the mortgage insurance. As far as having that first with no mortgage insurance, and a second in an equity line of credit, your over all payment is usually lower than a lender paid mortgage insurance loan payment. However, that is because it is generally an interest only low rate loan. However, if you elected to have the higher rate fixed second mortgage loan the monthly payment could come out higher than a lender paid mortgage insurance loan.Confused? Well, a qualified mortgage rep can help you understand it more clearly by comparing each in writing and via explanation!

HI tuyenhoung09599,I am a Mortgage Loan Officer in Arizona. As mentioned, there are options. It is basically called a LMPI (Lender Paid Mortgage Insurance) option. The rate tends to be a little higher however most times you will still see a savings compared to paying the PMI. The other benefit is that most times, the mortgage interest can be tax deductible (consult with your CPA about this). Let me know if you have any questions as I am local.