Buying A Home
jesspacatc
member
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Morgage suggestions for a newbie
I am currently looking into getting a morgage broker, but in the meantime have been doing research on different types of morgages/loans. Where I live, houses roughly go for 225-300 (your run of the mill house) and I barely have 10% saved to put down. Not sure if I should really be looking at a traditional morgage or more of a FHA option. Just looking for others that were in a similar situation.
Re: Morgage suggestions for a newbie
There are conventional programs for less than 20% down. We just did a 5% down conventional through Wells Fargo so we could keep our cash on hand for renovations. If you were a first time buyer there was a 3% down conventional.
We had our mortgage guy run the numbers both way. FHA required an upfront 1% fee and also their monthly PMI was much higher. With our conventional we are paying PMI for at least 12 months but then we can get our house reappraised and drop the PMI.
Have them run the numbers each way.
Let me know if you would like a name of a mortgage broker.