I heard there is a conventional mortgage that allows a 10% down payment.

That's correct. However, it will either have monthly PMI or an upfront PMI option. There is a lender paid PMI option but the interest rate increases. You may consider our USDA rural loan, VA or Native American 184 loan to avoid or reduce PMI.

Yes. In fact you can get a conventional loan with only 3% down and you will have MI with less than 20% down. If you do a Homepath loan then there is no MI

With few exceptions, some type of mortgage insurance is required for all loans with less than 20% down.

All loans require PMI if you have less than 20% down. There may be some portfolio lender that is a non-conforming lender. but they are few and far between.

Any loan over 80% loan to value will have some sort of mortgage insurance attached to it whether it is financed in lender paid or borrower paid. There are many hybrid loan options.Call us or email us at 201-962-3555 or Team@BestMortgageOption.com for ano cost no obligation analysis of your situation ask for Michelle or Benny. We will find the Best Mortgage Option to suit your needs! Check us out at www.BestMortgageOption.comAsk us about the awesome discounts we offer heroes as a Homes for Heroes affiliate!

As the other posts have stated, any single conventional mortgage with less than 20% down will require PMI of some type. If you choose to go the single loan PMI route, compare your numbers, because a financed PMI will reduce your monthly payment significantly as compared to a monthly PMI situation while letting you get the lowest available interest rates. Lender paid will usually result in a higher rate of interest. Your other option would be to do an 80% first mortgage and a 10% second mortgage, that would allow you to avoid the PMI all together. If we can be help, please don't hesitate to contact us. John Beman, john.beman@amflc.com or 888-779-6500 x 7315.

Find o lender who offer Lender Paid MI

Yes there is a way. Your looking for Lender Paid Mtg Insurance.

Conventional allows as little as 3% down. If you are putting down less than 20%, you have to deal with PMI somehow. At 10% down with a good credit score, mortgage insurance will be about .52% of your loan amount. On a $100,000 loan, that would work out to about $43.00 a month. You can also do a buy out of PMI with something known as a single premium. Contact a local mortgage broker for more information and details.

Yes, with a conventional loan you can put 10 percent down, however you will be required to pay PMI of you are not putting down 20 percent.

Yes, and even one that does 5% down. Both will require some kind of mortgage insurance, though with more down, it will be less than the FHA PMIpayments. Also, it still goes away at 78% LTV while the minimum time for FHA PMI is 11 years. You would benefit by talking with a local, licensedmortgage professional, like my associates at our Lake Oswego office at: 503-914-7732.

Fannie/Freddie conventional loans allow as little as 3% down. The "My Community" purchase loan has a very low mortgage insurance factor if you are below the income ceiling. Also, you can get a loan with 10% down if you work with a lender who can broker your loan under US Bank's Portfolio product - those loans don't have any mortgage insurance required. Let me know if I can help. Thanks!

Brittany: We have a Conventional loan with a minimum of a 3% downpayment and we can show you with MI or without MI. If this is a purchase, then the Seller can contribute up to 3.0% in "Seller Concessions" if the loan to value % is > 90%. This can be used to pay the "Single Premium" for the Mortgage Insurance, or the Lender can also pay the MI premium (called "LPMI" which stands for "Lender Paid MI"). Please click on my profile to the left, then click on my email address, and we can talk in the morning. My direct dial office # is 512-381-4643. I look forward to working with you. Thanks...Jeff

You Can go as little as 3% down on a Purchase loan- Also, check with your local community bank, your state may have a 1st time homebuyer program withlittle or no down payment required-

FannieMae Homepath allows you get a loan with no MTG insurance with little as 5% down. Also, you can find this on the Homepath website. You would have to purchase one of the homes that have been foreclosed on which are listed on the site!