Quote:
Originally Posted by Deaf Mortgage
Another requirement for this NO PMI is that your income will need to be 80% below the county average.
IE: If you live in Minneapolis's Hennpeins County. The average income would be 60k salary.
80% of 60k is... 48k. You will need to make below 48k in order to qualify for no PMI. Its designed for low income especially for SSDI community or low income with several kids. It will help out some. Few tens into few hundreds.
Dont get too excited about this program I am learning about. Its very strict program.
|
Hmmm, this may work. I'll ask about this requirement sometime in 2009. Thank you. I'm second tier but working on getting to first tier before getting anywhere near a Lender. Otherwise, renting is still fun!
