What is the next best option since the 80/20 is gone? want to avoid monthly insurance

Is what you want to avoid, the monthly mortgage insurance?

It depends on what purchase price your looking at and how much you can put down. I have the following80-15-5s 95 or 97% financing one loan with Lender paid mortgage insurance programs. If you would like a personal quote email me the specifics credit score down payment and income to jacob@jacobdenver.comPhone 720.210.7898Jacob Cole Haddan

Michael,There are a few options that allow you to put 10% down with no mortgage insurance. Please contact me directly if you have any interest in this option.Thank you,Spencer PackerNMLS - 363407Colorado - 100035393801-391-2273spencer@greatamericanlending.us

You can do a loan with LPMI (lender paid mortgage insurance) meaning the rate is a bit higher to compensate for no MI up to 97%LTV. Secondly, my company, Colorado Lenders based in Boulder, CO has access to some creative programs most do not. Right now, we are signed up with a Credit Union in Texas that will lend up to 90% with a first and a second for loans up to 1.5 million. The mortgage is an ARM for 7 years but the rates are excellent. Call me anytime if you have any questions. www.coloradolenders.com Have a good day!

I think you meant "monthly mortgage insurance" not monthly interest.. in any case, there are other options for not paying MI.. 20% down payment will work. VA financing if your eligible, does not have monthly MI.. you can also accept a higher interest rate and go lender paid MI (not recommended). Realistically, MI is not very inexpensive if you have good credit and your putting at least 10% down.. about $44 per every $100K financed.. and with MI, after 2 years, you can petition to have it removed if you have more than 20% equity... you'll have to pay for an appraisal, but it could be worth it if you have sufficient equity.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Do you mean avoid PMI?

There are several options that may work for you. I am a locally owned Colorado small business and am more than happy to discuss options. 720-670-0124