If you have a problem with a lender over PMI cancellation, contact the Federal Trade Commission and Washington state's attorney general.
Recent HUD announcement to increase its annual mortgage insurance and mortgage insurance for the life of the loan makes the decisions to go conventional a bit easier (if one can qualify). Here are some pointers for conventional with Private Mortgage Insurance (PMI):
3% gift funds is allowed provided that:
Please be advised that the files will require closer scrutiny from the lender as well as the mortgage insurance company. Pacific Coast Financial will pre-underwrite the files internally to ensure that our files will be approved. Each borrower is unique. Please call or email us for free consultation.
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