4 ms·
You only pay the higher percentage on the amount of loan principle below 20%. So for 80% of our loan the interest rate is 2.25%, and then a few points on top of
by legitster 4y ago
You only pay the higher percentage on the amount of loan principle below 20%. So for 80% of our loan the interest rate is 2.25%, and then a few points on top of that for what we still own below the 20%.
Still a screaming deal - but a lot of restrictions on how big of a loan you can get and what kind of property you can buy with it.
- tayo42 4y agoill dig into this. thanks! see theres a reason to rant on the comment section haha
- legitster 4y agoHaha! Once in a million! The advice I give all my friends - talk to a decent loan officer as soon as possible. Perhaps even years before you think you are ready! The amount of knowledge you will get by Googling these topics is like looking through a straw. But a professional can lay out a bunch of options you never would have known you had.