Quote:
Originally posted by Veterans Day
First off, FHA is the easiest way at 3% down up to typically a max loan of 234,150 in high cost areas, but with PMI, FHA will always have PMI until you get below 80% LTV. Conventional will require 10% at which you will still have PMI till 80%. Any lender that will give you a loan with an LTV above 80% with NO PMI is a subprime lender. Stay away. Be wary of going to moneytree or Eloan, as all they are gonna do is contact 3-4 lenders of which each will pull your credit and load up your inquiries on your report. 800 credit is more than you will ever need for a mortgage. Debt ratio is another angle to look at unless you plan on a no doc loan. There are so many variables. just be careful. There are 100% financing but if he is using a typical lender he is probably gettin hit for .25-.75 which he is passing along to you in the rate. Need advice hit me up 209598065 wife's been in the mtg biz for over a decade. 
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Dam! Good info! I might hit u up tomorrow to see if I'm getting a good deal on this loan I'm about to sign. You never can be too safe when it comes to big decisions.
Peace,
BV