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[QUOTE]Originally posted by venomous99: [QB] [QUOTE]Originally posted by 135.0: [qb] [QUOTE]Originally posted by venomous99: [qb] very simple, if you have the cash required to get into a non FHA loan go that route. why? as already mentioned, lower rates, no pmi, way more loan options, relatively easier loan closing. the reality is most folks dont have 20% cash down(~100k plus on an avg bay area home) so theyre left with limited options..FHA or just rent. [/qb][/QUOTE]Conventional requires 5% down not 20% anymore... 5% vs 3.5% is a no brainer just wait a month or two to save up for a better option. [/qb][/QUOTE]yeah if thats the case itll come down to what gets u the better rate as one will be looking at pmi regardless. that said, i wouldnt let PMI stop you from buying especially if the market is down(which it isnt now) as rise in home value can get u back to above the equity level for no PMI on a refi. those that bought in 2012 are seeing lots of benefits from a down market that now has jumped 20-30% since then...that means those w/ PMI back then likely could refi without needing PMI. [/QB][/QUOTE]
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