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FUUUUCK buying a house
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[QUOTE]Originally posted by venomous99: [QB] [QUOTE]Originally posted by N8: [qb] good luck man. What are you gaining by going with a split loan may I ask? All my purchases have been 1 loan so I never encountered this. [/qb][/QUOTE]its not so much for the borrower but for the main lender. its done as protection to the main lender doing the 80%. a bank would do the 90/10 if pmi in involved but most new home buyers would rather sacrifice the higher rate 2nd mortgage to fund the 10% to avoid pmi. in the past pmi was non tax deductable but now it is. hey jdub. if you want more advice i woudl suggest posting on trulia. always good to get as much info as u can...buying a house is a huge step obviously and u dont want to get burned by not reading the fine print... them stack of papers u gotta sign at the escrow office is scary. u may be signing ur life away in the fine print..lol jp [/QB][/QUOTE]
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