Quote:
Originally Posted by Xist
Do they allow 5% down payments?
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The advertise "Low Down Payment Options" I'm pretty sure they do FHA loans. Like most places they would rather have you prequalify and give you a custom rate than list a bunch of options on their website.
I noticed you said Navy Federal doesn't charge PMI. That could be a method to get people to accept a higher rate. 1% more doesn't sound like a lot but it make a huge difference over 30 years.
$171K @ 4.5% = $312,088
$171K @ 3.5% = $276,607
PMI doesn't cost $35,000