There are many ways to pay PMI:- LPMI - lender paid MI which is a fancy term for taking a bit higher rate to absorb the cost of monthly MI for the life of the mortgage, depending on your credit score it may take .125%- .50% more in rate to absorb your entire premium for the life of your loan- BPMI single premium- similar to the above it eliminates the monthly MI premium for the life of the loan but BP part of BPMI stands for "borrower paid," so as you might have guessed the borrower pays this premium in a cash sum at closing either from their own funds or seller concessions they've negotiated from a seller or a gift from their giftors -BPMI monthly or split premium - MI can also be paid as monthly MI which is the stereotypical way to pay MI and it can also be paid as a split premium or hybrid whereby the borrower pays a good chunk upfront to have a greatly reduced monthly MI payment.Most people take LPMI and absorb it through the rate via LPMI to eliminate MI for the life of the loan. 

A couple of questions:1) Are you borrowing $100,000 for the down payment on a property and securing conventional funds for the balance of the purchase price?

I was planning on doing a double closing and use transactional funding for this deal. 

As a graduate of the university, I know first hand the rental rates students will pay as well as the more desirable neighborhoods students would like to live in.I know the area well, and would be happy to help any way possible.Sean

@Kay KeovongphetIf you are still employed by Boeing and under the age of 59 1/2, you will not be able to transfer your funds elsewhere.Once you change jobs or reach retirement age, you would have the ability to move to a different plan.

I offer to fund a flip of there house, they would get the number they were seeking for their house plus a percentage of whatever the profits are after all expenses, holding costs, realtor fees etc..have been paid.

Basically I would use the funds in the 401k to purchase my deals, fix them up with funds in the 401k as well, then sell them for a profit to my LLC which would then rent them out long term. 

Desirable area. 

Looking to grow to do multiple projects simultaneously, need to figure out how to secure short term capital funding to facilitate this

My personal funds are now patiently waiting for the next cycle, but have a few target types already ;) My personal real estate goals are long-term.