New to Real Estate · Los Angeles, CA · Member since 2020 · 9 posts · 1 vote
I heard on a podcast recently of a couple getting a loan and the bank scratched the PMI and they put less than 20% down. Does anyone know of a bank that will do that in Los Angeles if you have good credit?
Some 3 and 5% down conventional programs do not have MI but its concealed in the rate which can be better since mortgage interest can be a write off and MI is down the tubes.
@Dan Mackin looking for an owner occupant loan. Sorry on the delayed response! From what I am gaging it seems doable but only up to a certain price and in West LA where I live everything is a fortune and idk if lenders will lend with no MI to a more expensive place.
@Ryan Keller Yeah the price point can sometime affect it. Always worth checking though. Be sure to check with mortgage brokers since they may have some better options for you.