under contract - seeking no PMI finance options for slam dunk triplex deal

[Austin Cox]

Recently under contract on a triplex (Philadelphia). Would love to find better than retail/portfolio/not sold on secondary product options, preferably with no PMI, as we have $120k-$180k of equity built in via sales price vs market value.

VA loan entitlement mostly used up so have been looking at FHA and Conventional products. Have not been impressed by current rates/loan estimates/cash to close.

Would love any referrals or recommendations if y'all have some.

Inspection is Monday (11/18)

[Marcus Auerbach]

Close the deal with a local bank or CU, worry about PMI later. You'll be around 7% and whether you like it or not, conventional, FHA and VA will be your best choices (depending on your financial profile, hard to say which one).

Current forecasts are still showing rates to trend slightly down in 2025, so that could be your opportunity to cash-out refi.