Personal Mortgage Help
240k single family, owner occupied. Been offered two mortgages so far.
a. 0 down, 80/20, first at 6.875 fixed for 30 yrs, second at 8.75 fixed for 15 yrs
b. 5% down, 95% at 5.875 fixed for 30 yrs + PMI
I'm still looking around for other options. But in the meantime, I was wondering which of these two you think would be the better option, and why?
Thanks everyone.
The better option for me is likely different than for you. I'm just guesing, but our priorities and needs at this moment may be different.
Compare the two. List the pro's and con's of each, and weigh the criteria, based on what's important to you.
Good luck,
Jeff
It's a cash flow situation. if you have the 5% do the 95/5 if not go for an 80/20