Looking for a mortgage (0%) down

scherzeroni · Joined: 05 Jan 2008 Posts: 51 18.77 Dollars($)

The closing costs do seem to be a bit high as well as the interest rate on the first mortgage. You should ask them if they will still give you second mortgage if you find a new first mortgage lender. Or maybe they might match a rate if you find a better deal somewhere else.

banker0679 · Posted: Sun Jan 06, 2008 8:12 am Post subject:

Rates will be a lot lower than MyCommunity.

FHA requires 2.25% as a down payment..some sellers are willing to gift this to you...most aren't.

Mycommunity is zero down...but you will need a 620 to avoid HIGH PMI payments. The rates are higher than a FHA loan

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