All Forum Posts by: Boris Le

Thank you for your suggestions. I will reach out to Zach and Michael. I know with FHA interest rate is 3.5% but it will end up having a PMI which would reduce price of the building I could buy. 

Is there an option with 3.5% down payment without PMI?

Thank you. 
Originally posted by @Jonathan Klemm:

@Boris Le - Like the other above suggested if you can owner occupy you can put down only 3.5%.    Also, I'd worry a little about the actual rate and emphasis on working with the right people.  

I've personally found that you tend to get what you pay for and more often than not it's actually better to pay a little more.  

Either way, I'd link up with @Zack Karp or @Michael Facchini and see how they can help.

Yes I would be living in one of the units. 

Originally posted by @Paul De Luca:

Can you owner-occupy the property? Lenders offer lower rates for owner-occupied homes compared to investment properties.

Originally posted by @John Warren:

@Boris Le as you think about this question, what constitutes the best deal for you? Are you trying for the lowest rate? What about the lowest down payment possible? I have noticed over the years that a lot of my clients are very rate sensitive when they buy, but then they turn around and try to cash out refinance a year later! What are your goals with this loan? Is this truly going to be a loan you hold for a long time? 

In terms or rates, I have recently seen a client close with a sub 3% interest rate on a 4 unit here in Berwyn. I believe there was a rate buy down involved, etc.