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XOXO
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Re: Is there PMI on co-ops?
I dont' know what PMI is and I have a co-op - so I'm guessing no, but I dont' know for sure
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Re: Is there PMI on co-ops?
yes, there is. I was just speaking about this with my friend yesterday who lives in a co-op
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Re: Is there PMI on co-ops?
I guess we put down 20% then so we didnt' have to worry about it.
Who knew?
Who knew?
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Re: Is there PMI on co-ops?
My co-op requires a minimum of 20% down, so I guess it depends.
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Re: Is there PMI on co-ops?
we have a townhouse and put 20% down, so, no we don't pay PMI.
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Re: Is there PMI on co-ops?
Posted by MonkeyLuv
Posted by nj42305
yes, there is. I was just speaking about this with my friend yesterday who lives in a co-op
That's what I thought. I knew it was too good to be true...
Thanks!![]()
You don't need to do PMI, just take out a second mortgage at a higher rate to cover the rest of your down payment. That's what I did on my condo- I am paying a small amount each month- much less than the PMI would have been. FM if you need more info.
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Re: Is there PMI on co-ops?
i think it is called a piggy back loan.
that is how we are going to avoid the pmi on a house.
that is how we are going to avoid the pmi on a house.
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Re: Is there PMI on co-ops?
You pay PMI on any mortgage that has a LTV of more than 80% (whether its co-op, condo, house, townhouse, etc.).
Get a piggyback loan to avoid PMI.
Get a piggyback loan to avoid PMI.
