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Avoiding PMI in Beaverton, Oregon – Buy a home that the owner is willing to carry the 2nd loan

 

Are you a buyer that is being told that your payment is going to be either $150 higher because you will need to carry PMI (Private Mortgage Insurance), or that it will be $75 higher if you carry a 2nd loan at 11-12%? There may be a better way for you to purchase a home, especially if the $75-$150 a month is the difference between the house of your dreams and settling.

This other option is having the seller do a 20% carry back. I don't advise most sellers to do a carry back because of the risk involved to them being in 2nd position to the first loan, but there are some sellers that offer this. If you have a seller willing to offer you a 2nd loan at 7-8% then this will save you a lot of money each month and also help you avoid PMI!

For more information on creative finance ways of buying a home and not paying private mortgage insurance please feel free to e-mail or call me anytime.

 

 

Respect Realty LLC (Expect More)

 

At Respect Realty, LLC our agents believe in 100% dedication to client satisfaction.  We specialize in property and land acquisition around the Portland Metro and Vancouver, WA area. We delight in working with first time home buyers and sellers to guide them from start to finish. Our doors are always open and we are always happy to assist you with your real estate questions.

 

Reach out today, we look forward to talking with you!

 

Todd Clark and Seraina Aguayo (Owners of Respect Realty)

Respect Realty LLC (Expect More)

(503)564-3130

info@RespectRealtyNW.com

www.RespectRealtyNW.com

 

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Comment balloon 0 commentsRespect Realty LLC • October 08 2007 12:58PM

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