Yes, we are looking for conforming and we are encountering the lack of flexibility.

Jack:If you are acquiring residential (1-4 unit or 1-5 unit w/ CIBC, 1-6 unit with RBC) properties and your ratios are strong, you should not encounter any real issues from the Big-5 until you reach 5-7 mortgages.

has any one has encounter this situation in the past before?

Post after your first encounter of adversity, let me know how it went.

I'm wondering if anyone has encountered that before, and any tips and thoughts on negotiating are welcomed!

But, again, the good news is that this seller being an irresponsible individual is letting you presumably get a great deal on the upfront sticker price.

@Denny Le  - Yes I am familiar with the program because lending is what I encounter day to day its the lesser of 78% or 11 years with a min of 10% down so to answer your question if you pay it down to 78% in less than 11 years you will still pay MI because the wording is "the lesser of."

Some of the concerns and issues i have encountered and my two cents, whatever that is worth may assist with your dealings with the next contractor you encounter or need.Preface is that we are in a dire need for skilled help and as the blue collar/white collar debate over college seems to escalate contractors will continue to have more work than they could possibly handle if they run a legitimate business.1.

In  Narragansett they also have a  sticker system where student houses get stickered for the semester if there are noise complaints and they get corresponding escelating fines which are on the landlord if not paid. 

That would make you a college junior or a senior.In reality, I've yet to encounter that 'in the wild.'