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Old 05-20-2012, 09:50 PM
 
413 posts, read 834,554 times
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You can get a conventional loan with 5% down. I just did it. I found FHA loan to make no sense. The MI was way higher than the PMI I was getting by putting down 5%.

Put down 5% and PMI will be about $55 per month per 100K financed. aimloan.com is a good site to play with as you can get a good idea of the numbers you are looking at.

taxes should be listed in the listing and are also probably available on the county assessor website.

Add your payment plus tax plus interest. You can go up to about 28% of your income.
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Old 05-21-2012, 12:50 PM
 
Location: DFW
12,229 posts, read 21,554,522 times
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Quote:
Originally Posted by hindukid View Post
You can get a conventional loan with 5% down. I just did it. I found FHA loan to make no sense. The MI was way higher than the PMI I was getting by putting down 5%.

Put down 5% and PMI will be about $55 per month per 100K financed. aimloan.com is a good site to play with as you can get a good idea of the numbers you are looking at.
.
The PMI amount is going to vary a lot based on credit score.
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