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Personal Finances / Buying or Selling a Home
|Subject: Re: Downpayment Sources||Date: 5/10/2013 7:23 PM|
|Author: CCinOC||Number: 125246 of 127886|
*ALL* lending is being done at a 50-75% subsidized-risk discount off real market costs.... the 3.5% 30 FRM mortgage would normally be going for 7-8% if the taxpayers weren't being used as a backstop to eat the future defaults.
Yeah, I got that. What I don't got is sources for 90% LTV jumbo (above maximum Fannie/Freddie loan limits for the applicable county) with no PMI. The only lenders I can identify that go to 90% LTV for jumbo are:
~ Kinecta Federal Credit Union (ARMs only)
~ Navy Credit Union
~ NASA Federal Credit Union
They all require PMI--either lender or borrower paid--or 80/10/10.
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