would i get a no mortgage insurance loan with a 733 score and 8% down?

A loan with less than 20% down requires some form of mortgage insurance, I don't see any reason why you could not get MI as long as you otherwise qualified for the loan. MI is usually available with as little as 3.5-5% down. If you would like to call and discuss the details of your situation please call me at 970-748/-0342 or to learn more about our company go to www.mtnmortgageguy.com

The requirement for MI is not based on your credit score, it's based on your Loan to Value (LTV). How much the premium is will depend on several factors, your credit score being one of them.. and with a good credit score, the premium will be lower. On conventional loans, guidelines require MI on any loan with a LTV greater than 80%. The good news is that MI rates are not that expensive, (about $52 for every $100K financed) and after you have paid for 2 years, and you reach 20% equity or more, you can ask your lender to remove the MI. You will have to pay for an appraisal, but if the value is there, you can get the MI removed without having to refinance. Also, if you can come up with a total of 10% down, the premium will drop to $37 monthly for every $100K financed. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Hi Cynthia, We have a program with a very low MI factor with your credit score.Give us a call when you have a moment: 303-578-9202Best,Robert Dixon, Loan Officer

Great advice from the other lenders. And be sure you ask a lender about LPMI - lender paid mortgage insurance. Some lenders offer this, where you take a slightly higher interest rate on your loan, and the lender pays off the MI. Usually works well, your payment is a bit more at a higher rate, but still below what it would have been with MI.

It's certainly possible to structure the loan so that there is no monthly mortgage insurance payment. Either lender paid, or simply using part of your downpayment funds to pay it - which would likely be better for your monthly payment.