No PMI with 10% down in AZ?

You could look at doing a 417,000 first having a 33,000 dollar second and having your down payment be 10%.

I have a great program that will allow you to do a 90% first and 10% 2nd.. closing consecutively, and the rate would be much better than you doing a jumbo with 10% down.. I would be happy to put together some numbers for you.. and I'm local!! 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Any mortgage loan over 80%, and you have to deal with mortgage insurance someway. Standard monthly, single premium (either borrower or lender paid), or two loans. Because it is significantly cheaper for many people on conventional loans today that in the past, especially for those with good credit, when doing the math, most people opt to just take the standard monthly PMI. Lender paid mortgage insurance, where you slightly increase the interest rate to pay for the insurance is popular, and you can potentially do an 80% first (or in this case, a $417,000 first), and have a second for the remaining up to 90%. Rare is it I do the two loan option anymore...