Financing Question. . .

Keely profile photo

How do you guys tend to finance your purchases? Do you put money down and if so how much? I found on my last purchase that I had to put 5% down if I wanted to get a better rate on the duplex and no PMI. It's an interest only product both are at 80/15. What have been your scenarios and have you ever been able to finance at 100% LTV without PMI (mortgage insurance) with a positive cash flow? I thought I could finance 100% and then had to come up with 20k at the last minute and it depleted my savings, yuck. I would love to hear your stories. Someone helpfully suggested I post this to the financing forum but don't see one?!

Comments(1)

  • myfrogger16th September, 2004

    Little down payment? Simple don't get conventional financing. Sometimes conventional financing is the way to go but oftentimes you can use another aquisition technique that doesn't use much or any of your own money.

    I suggest do some reading and maybe purchase a course or two to get the jist of things. This board can be most helpful to you when you have a very specific question. It is hard to write a good, helpful response to such a vague question.

    GOOD LUCK

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