More info needed,,, specifically, why are you looking for an 80/10/10? typically, it's to avoid mortgage insurance.. and if that's why, then I would say your better off paying MI than doing an 80/10/10... There are different lending programs, each one requires a different minimum down payment.. For conventional, you only need 3% if you are a first time home buyer, otherwise it's 5%.. but unless you put 20% down, you will have to pay MI.. however, this is not necessarily bad.. With your scores.. For every $100K financed, the MI is $60 per month.. and once you hit 80% loan to value, you can either refinance or ask your lender to drop the MI.. If you go FHA, then the MI in most instances, is there for the life of the loan.. The same for USDA.. But for VA.. there is no MI required.. Your best option is to contact a local mortgage banker/broker and ask them to give you several scenarios.. but stay away form the really big box banks as well as the small credit unions.. neither will give you the time of day.. I'm a preferred Lender with Arizona and California being my primary markets. 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 NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893
I agree with William. I do have one lender that will do a conventional mortgage with only 1% down.I am located in Murfreesboro, give my office a call to,discuss further.615-867-3060
Contact Alex at AJNashville.com That dude is wicked smart.
I have an 80-10-10 available for you. It would depend on the loan amount though. I can help you in TN. Please respond or reply to me directly the purchase price and I will get you some numbers.
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