{ "media_type": "text", "post_content": "My husband and I are looking to buy our first home. We live in HCOL, so the loan is most likely going to be jumbo. In your experience, is it better to go with bigger banks or smaller lenders for jumbo loans? We have enough cash to put 20% down, but would prefer not to do that and go with 15% down instead - do jumbos typically go with 15% down and no PMI? We also have an option to borrow from 401k or to sell 1/3 of our investments to raise cash if PMI is too high. What would you do? Any advice?", "post_id": "6104ae6e2d6d6b0021de493f", "reply_count": 10, "vote_count": 2, "bowl_id": "5a5242b78e26290018502ca0", "bowl_name": "The Real Estate Bowl" }

My husband and I are looking to buy our first home. We live in HCOL, so the loan is most likely going to be jumbo. In your experience, is it better to go with bigger banks or smaller lenders for jumbo loans? We have enough cash to put 20% down, but would prefer not to do that and go with 15% down instead - do jumbos typically go with 15% down and no PMI? We also have an option to borrow from 401k or to sell 1/3 of our investments to raise cash if PMI is too high. What would you do? Any advice?

like
Posting as :
works at
You are currently posting as works at

I just went through this - bigger banks didn’t have a jumbo loan for less than 20% down. We went with a smaller lender, bank of Oklahoma, and put 10% down. Our PMI is nominal - less than one dinner out.

like

That’s so scary and impressive at the same time. Congrats!!! And thank you for sharing!

like

Credit unions is you can. They have the best rates.

like

For our first two jumbo loan homes we went through Morgan Stanley who we do our investments with and got excellent deals (2.85 and 2.6) but were both 20% down. Right now on our third property we found a 10% down lender with great rates (2.625-2.75) - Bangor savings. No PMI.

like

Ok same. Give Rick Renaud a call at Bangor Savings. 978.660.8338 The 10% program I’m aware of is for 2nd homes but if this is your first home they may still have some sort of deal.

Related Posts

Why do I feel so guilty about wanting to take another offer and leaving my team? I like my current teammates just HATE the client and project. I’ve also asked for a raise multiple times and have been told no. I’m underpaid but am up for promotion this year (June). I don’t think Deloitte can/willmatch. I want to take the money but I feel like I’m still learning leaderships skills and can see the potential for beefing out the management portion of my resume. What would you do? (Offer 50% more)

like

What would be a good TC +benefits for VP of Salesforce consulting in NYC?

like

I just got a raise and want to start investing more in my skin/ hair! What are your favorite skin/hair treatments/ upgrades that have made a difference? Interested more in peels/ facials/ microneedling than filler at the moment.

like

What are common exists for healthcare strategy folks? Specifically managers - possible to go into corporate dev for a provider?

like

Why is expense reimbursement so tough? Why hasn't anyone thought of improving the process yet? 🤐

like

What is the path to a GC for a senior associate on a TN? I’ve been with my firm since college (2 years) - firm policy is that they initiate the process after a two year tenure (and provided you are senior associate rank, at minimum). Will I be able to pass the PERM evaluation? If not, would things get easier with a subsequent promotion? Or would it be best to lateral to a new firm and start the process there? Sorry, super green when it comes to this

like

Promotion effective two weeks from now on 7/1, too early to change your job title on LinkedIn?

like

Are summer hires at Accenture eligible for a raise come the October review cycle?

like

Is career development for account people WAY more structured and prioritized than it is for creatives everywhere or just at my agency? Been here 2 years and I’ve not seen a single creative promotion.

like

If you knew you were getting promoted and you think your company will offer a 10% raise but the market rate is probably closer to 20-25% raise, how would you go about it?

like

When you raise an issue and your agency actually listens ❤️

like

I am very conservative in investment. Have $650K in CDs/HYS, $50K in stock funds, and maxing out 401K. I have no debt except $520K of house mortgage @ 2.6% interest rate (house value is approx $1M). Does it make sense to pay out a portion of the mortgage or should I invest more in the market?

like

I’ve been working in healthcare for the past 5 years. I recently graduated with my MBA and am looking to get into consulting. Anyone able to refer me? Specifically, I’m looking to relocate to NY...

like

What yearly raise and bonus do you expect with 1 or/and 2 rating, consultant level at D ..

like

I’m separating from my wife before we can start the divorce next year. This year I’m going to file taxes married filing separately and expect to pay a lot to IRS (salary increased and got allowances for office relocation besides the type of filing). Is anything I can start to do to minimize the tax impact later? E.g maxing out 401k and HSA will help?

likehelpful

I’m planning on asking for a raise for the first time in my career and I want to list out my accomplishments but I don’t want to seem cocky about it. (cont’d)

Any suggestions or tips for how to raise your EQ?

Hey! — one of our portfolio companies in the healthcare space is looking for someone to build out its customer success function. Looking for senior manager/principal, healthcare exp required, dm me!

likesmarthelpful

If I won't be needing health insurance from a full time gig could I ask that be added to my paycheck?

like

Contacted by a recruiter from PwC, I have 4 yrs of experience in management consulting with a health background. Been doing mostly healthcare operations & strategy work—what area would I align @ PwC?

like

Additional Posts

How do you respond to pushy HR people/ recruiters who ask your salary req in the first 5 mins?

likesmart
like
likeuplifting

Do any one have interview experience with Informatica company? Wanted to know the interview process. Any help much aplreciated.

like

What do you do when your SO is so naive that she tells her employer during a promotion interview that her long term plan is a career in academia.

like

185k salary, looking at buying a 800k duplex in Los Angeles with 20% down, I would live in one unit and rent out the other for 2k per month. Is that reasonable given the current market?

like

Hello Fishes, I am on notice period and looking for a job change in Pune location as Python developer role. Can someone help me with refferals. Technology: Python +Django +SQL YOE: 3.8 years Thank you

like

CSR now gives 10x for booking through the portal for hotels, but I’ve heard we won’t get Bonvoy points if we book through portal because it’s booked through 3rd party? Is that true? What about nights towards status?

like

Can you make Partner on H1B?

like

Worked 2 years entry role IT consultant at a big4 and 2 years another entry role strategy consultant at T2 cobsulting firm (ATK, LEK, S&), which level at MBB should I apply for? Again entry role?

like

Brainstorming on ways to increase connectivity among teams despite the 100% remote environment we find ourselves in at the moment (virtual HH seem to be getting old). Any ideas and/or things you have implemented at your company?

like

How have you retained the will to keep going on your current trajectory? I’m currently on track for promotion and doing well, but I’m struggling to muster the energy needed to keep it up. Just bored

like

Does anyone know what the typical salary is for a PharmD in the pharmaceutical industry? Especially in functional areas like HEOR or market access?

like

As head of a division in industry, we work a lot with vendors. Increasingly I am noticing that men working at vendor firms have offer resistance when I ask for more details/invoice timings etc. I recently had a partner from a mid size firm telling me that he will be sending the invoice without phase completion. Ofcourse, I pushed back since the work is not done and it's not per contract, and he comes back asking me to be flexible. I am ex MBB, and am quite surprised at this attitude. Cont...

like

2 years at MBB + M7 MBA, currently in Chicago. Looking to move to a lower cost of living geography. Heavily considering exiting into Tech in the Research Triangle Park Area (think Raleigh, Cary, Durham, Morrisville) . Targeting these firms for BizOps/ Sales Strategy roles: Cisco, Lenovo, IBM, Salesforce, Amazon, Microsoft. Non-negotiable is a focus on cloud technologies - either as a provider or an adopter. Any heavyweights I am missing? (Purposely left GCP out). Appreciate the stress test!

like

I recently had an interview with a Publicis agency and didn’t feel as if I was able to fully grasp the work/life culture or company culture as a whole. Anyone work there willing to give their thoughts on the overarching company?

like

My interview for an internship lasted over an hour. Good or bad sign? It was more of a conversation than anything...

like

Anyone else annoyed with the darn holiday cards with everyone's picture perfect families? Dont get me wrong, there are some I genuinely like bc I like them. Some just feel like its rubbing it in. Or all in my head :(

like

I'm thinking of applying for Consultant - Forecasting role at ZS Toronto. Could someone help me with the work culture and WLB at the Toronto ZS office? I have 5 years of relevant experience at IQVIA, Canada.

like

Welcome to the hotel hell. Check-In time is now, check out time is never.

funnylike

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

For account settings, visit Fishbowl on Desktop Browser or

General

Legal