https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Sun, 15 Nov 2026 11:18:38 +0000 https://boards.hellobee.com/topic/recent-homebuyers/page/2#post-1367911 Wed, 22 Jan 2014 16:27:01 +0000 808love 1367911@https://boards.hellobee.com/ <p>We bought a few years ago with 3 percent down FHA loan, 4.87 rate. Then a year later, we refinanced to eliminate pmi, and change to a conventional 20 yr., with one percent lower (3.87). Then this year with a great appraisal, we refinanced again to a conventional 15 year with 2.6 percent right before the loan rates jumped again. </p> https://boards.hellobee.com/topic/recent-homebuyers/page/2#post-1367677 Wed, 22 Jan 2014 15:29:18 +0000 RLCeigh 1367677@https://boards.hellobee.com/ <p>This info is great! We currently own a condo in Boston (Savin Hill), bought 5 years ago and the value has increased (wahoo) so we are thinking about selling next fall/spring. But buying on South Shore (or North Shore) with 20% seems impossible. We are looking at our budget and thinking what we can do... but maybe we should see a mortgage broker and see our options?? </p> https://boards.hellobee.com/topic/recent-homebuyers/page/2#post-1367557 Wed, 22 Jan 2014 14:58:22 +0000 KayKay 1367557@https://boards.hellobee.com/ <p>@Winniebee oh you know...just living the dream! :) headed out to CO next month for a little skiing and rental-shopping. can't believe you guys are so close to being done!! must be a relief to have the long-term getting settled, huh? </p> https://boards.hellobee.com/topic/recent-homebuyers/page/2#post-1367032 Wed, 22 Jan 2014 13:12:15 +0000 winniebee 1367032@https://boards.hellobee.com/ <p>@KayKay: hey I have been wondering about you!! Are you getting psyched for next year? </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1365734 Tue, 21 Jan 2014 22:36:00 +0000 Anagram 1365734@https://boards.hellobee.com/ <p>We bought this past summer (condo, not a house but it's a conventional loan so no difference). We put down 25%, no PMI, but we know this is not our forever home so we're doing a 10 year ARM at a 2.5% interest rate. We plan to move to something bigger in 3-5 years so 10 years gives us time to wait out a temporary dip in the market to sell if we have to.</p> <p>We're actually hoping to have it paid off in 10 years, but obviously home prices where we live are sky high, so we'll see if that pans out. </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1365706 Tue, 21 Jan 2014 22:22:38 +0000 lindseykaye 1365706@https://boards.hellobee.com/ <p>We bought in June 2013 (in FL). Paid 5% down, no PMI and 3.875% on a 30 year loan. We chose that over a 3.75% rate with PMI until we reached 20% equity for which we also qualified. </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1365672 Tue, 21 Jan 2014 22:03:31 +0000 Myicitygirl 1365672@https://boards.hellobee.com/ <p>We locked our jumbo (nonconforming) loan in late november, closed in mid december, 25% down, 4.125%.</p> <p>30 year fixed, no PMI. But plan to pay off within 20 years. </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1365285 Tue, 21 Jan 2014 18:33:02 +0000 Cupcake 1365285@https://boards.hellobee.com/ <p>@looch: @littlek: USDA loan? We closed in sept. and put 0 down, no pmi, 4.74% for 30 years. </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1365183 Tue, 21 Jan 2014 17:51:29 +0000 hellobeeboston 1365183@https://boards.hellobee.com/ <p>We just bought our first single family home north of Boston! We were in a townhouse before that we did with an FHA loan with 10ish% down.... We did 20% down on this house and our rate is just below 4% for a 30-yr fix, no PMI... Rates are still pretty great! Good luck! </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1365086 Tue, 21 Jan 2014 17:15:59 +0000 Tidybee 1365086@https://boards.hellobee.com/ <p>We put 20% down and got a rate of 4.0% in October 2013 which apparently was the lowest by about .3%. </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1364860 Tue, 21 Jan 2014 16:04:15 +0000 KayKay 1364860@https://boards.hellobee.com/ <p>We got a doctor loan in 2009. Zero down, no PMI. From a large regional (mostly southeast) bank. I know the program isn't quite as popular as it used to be, but friends of ours graduating residency and not doing fellowship just got one to buy their forever home. They close in February. </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1364824 Tue, 21 Jan 2014 15:52:40 +0000 immabeetoo 1364824@https://boards.hellobee.com/ <p>We put 20%... I want to say our rye is 3.3%? No PMI. </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1364763 Tue, 21 Jan 2014 15:27:40 +0000 mlm2934 1364763@https://boards.hellobee.com/ <p>@littlek: wow I didn't know you could still get a loan like that since housing crash </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1364762 Tue, 21 Jan 2014 15:25:54 +0000 jedeve 1364762@https://boards.hellobee.com/ <p>@yoursilverlining: I think that's for a FHA loan - you pay PMI the entire loan, not just until you reach 205 down.</p> <p>We put 0% down. We borrowed our down payment from a non-profit that encourages home ownership among low/middle income buyers. Our interest rate was 4.375, and we pay 6.375 on the down payment loan. That made more sense for us to do than to do an FHA loan, or to wait a few years and risk interest rates being higher. </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1364760 Tue, 21 Jan 2014 15:25:28 +0000 looch 1364760@https://boards.hellobee.com/ <p>@Sparkler: yes, they put it on their balance sheet! </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1364752 Tue, 21 Jan 2014 15:23:41 +0000 yellowbird 1364752@https://boards.hellobee.com/ <p>@mrs. wagon: we just got this loan in May of 2013. I am not in boston and our cost of living is way, way lower where i am! </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1364748 Tue, 21 Jan 2014 15:23:04 +0000 Sparkler 1364748@https://boards.hellobee.com/ <p>Small local banks can do whatever they like! I know a few friends who have purchased homes with large mortgages and less than 20% down with no PMI by getting their loan through a local bank. As long as a local bank is going to be holding your loan and not trying to sell on the secondary market, then they can use their own underwriting standards to determine whether they think it's a prudent investment! </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1364744 Tue, 21 Jan 2014 15:21:24 +0000 mrs. wagon 1364744@https://boards.hellobee.com/ <p>@winniebee: I've heard of this physician's loan but only through a high school friend who went through a really bad experience because most banks got rid of this program in the Boston area, at least. Both she and her husband are physicians and they ended up having to walk away on closing day because the bank wouldn't put the last of the paperwork through. She searched and the only bank that still offered it was Bank of America, and they stalled out and the deal fell through. I would call some area local banks and see if they still have physicians loans programs going. </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1364739 Tue, 21 Jan 2014 15:18:49 +0000 looch 1364739@https://boards.hellobee.com/ <p>@littlek: okay, fair enough! </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1364736 Tue, 21 Jan 2014 15:17:46 +0000 littlek 1364736@https://boards.hellobee.com/ <p>@looch: I don't remember the details. My DH bought our current home. I own a rental property. </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1364734 Tue, 21 Jan 2014 15:16:29 +0000 winniebee 1364734@https://boards.hellobee.com/ <p>@littlek: wow that is crazy. I don't expect that but would love to put down 10%. </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1364732 Tue, 21 Jan 2014 15:15:14 +0000 looch 1364732@https://boards.hellobee.com/ <p>@littlek: I am intrigued. No down payment, no PMI, no loan for the down payment?</p> <p>The only other thing I can think of is a pledge! You've stumped me! </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1364722 Tue, 21 Jan 2014 15:12:30 +0000 yellowbird 1364722@https://boards.hellobee.com/ <p>@winniebee: I know several banks in my area offer this type of loan. I honestly didnt look at different mortgages because I knew I could get this one.</p> <p>Our bank is a small regional bank, but you could probably call around to the bank you use or banks in the area and see if they offer this type of thing. </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1364717 Tue, 21 Jan 2014 15:12:02 +0000 littlek 1364717@https://boards.hellobee.com/ <p>@looch: Nope, we didn't make a down payment. </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1364714 Tue, 21 Jan 2014 15:10:59 +0000 looch 1364714@https://boards.hellobee.com/ <p>@littlek: is that because you have a loan for your down payment? This was a pretty common way to avoid PMI, but I thought it wasn't done any longer. </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1364707 Tue, 21 Jan 2014 15:08:52 +0000 littlek 1364707@https://boards.hellobee.com/ <p>@winniebee: We put down 0% and pay zero PMI. Our interest rate is 4.75% fixed rate 30 year. But this was 2 years ago. </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1364701 Tue, 21 Jan 2014 15:04:44 +0000 winniebee 1364701@https://boards.hellobee.com/ <p>@yellowbird: my husband is a physician. Tell me more! </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1364677 Tue, 21 Jan 2014 14:57:51 +0000 photojane 1364677@https://boards.hellobee.com/ <p>We bought in August, and got a loan through the Virginia Housing Development Agency, and we got a conventional loan with only 3% down and no PMI (5% interest). BUT, we were only able to qualify for that loan because we were first-time home-buyers. The loan we were looking at through Wells Fargo required 10% down + PMI. </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1364675 Tue, 21 Jan 2014 14:57:24 +0000 MrsBrewer 1364675@https://boards.hellobee.com/ <p>We bought in June of 2012 with 5% down, 15-year mortgage, 3.375 interest rate, and we will have to pay PMI until we are at 20%. </p> https://boards.hellobee.com/topic/recent-homebuyers#post-1364665 Tue, 21 Jan 2014 14:54:57 +0000 mrs. wagon 1364665@https://boards.hellobee.com/ <p>@winniebee: done! </p>