Hey everyone, I am a young M professional looking for a roommate in a 2 bd/2 ba condo in the Morningside area, starting this April. It is located right next to Piedmont Park, and close to all of the big popular areas (Emory campus, Midtown, ViHa, Buckhead).
Rate for the bedroom is $900/month, furnished and utilities included. There will be one parking spot available for a car. The community is nice and not noisy. If anyone is interested and wants more info, please DM me!
Yeah, doctor loans. Gotta be a doctor though.
Lol very helpful
VA, time to enlist
Lol that's how I did it
Probably not. Hopefully you will buy in a good area and get some equity to refinance to a conventional loan in a couple years.
If it’s your first purchase, FHA loans generally get rid of PMI requirements somewhere between 10-12% down, but both you AND the property have to comply with FHA requirements... I did it for my first house, was a nice way to get into ownership.
As always YMMV; I got that FHA loan in 2005 with a phone call. Things are... different now. :)
We did two loans - the second was a line of credit for the amount over the PMI threshold. We just refinanced a couple of years later into one mortgage
Rising Star
No, this is a universal requirement. Exceptions exist for loans in a few circumstances - veterans are exempt from PMI, as are some loans in certain places (think: less desirable), or in very limited circumstances for some minority groups - I believe South Sudanese residents received such treatment years ago, etc.
You will pay PMI if you put down less than 20%. If you can’t pay 20%, or pay for PMI, you can’t afford the house. It is really that binary.
Or lawyer I think.
Consider putting down 25% - right now rates are just phenomenal. You can take 5% line of credit and pay it off pretty fast. Net net you’ll come ahead.
NACA I'm pretty sure. It's a longer process than most loan programs, but it's worth it from what I hear