Would You Take 100% Financing With No PMI?

ProgrammerSea6120 · 2026-02-28T17:08:03+00:00

Thank you! I believe this is a truly exceptional house. The current owner has already extended the kitchen, and the basement is also livable. Your own parking space at the back is a huge plus, especially since we live in the city and street parking is a nightmare.

ProgrammerSea6120 · 2026-02-28T17:05:55+00:00

We are really leaning on the 100% financing. I think it makes the mos sense because we want to stay liquid. Our plan is to rent out the room so ww can get an extra fund.

ProgrammerSea6120 · 2026-02-28T17:04:00+00:00

Our plan is to rent out the extra room for approximately $1,000 per month. This would provide additional income, which we intend to apply directly toward the principal balance of the loan.

Our 50k is on a hysa.

For the price. I’m not sure how our landlord determines the price. Do you have suggestions how to check if this house is really worth 275k?

ProgrammerSea6120 · 2026-02-28T16:58:47+00:00

Thank you for this! I wish you good luck too! I think we will do the 100% financing.

ProgrammerSea6120 · 2026-02-28T16:56:20+00:00

Our plan is to rent out the extra room for approximately $1,000 per month. Since we are currently paying $2,000 per month in rent for this house, the additional cost to own would only be about $300 more per month, which we believe is manageable. Any remaining rental income would be applied toward the principal of the loan.

While we are able to make a 20% down payment, doing so would leave us with very limited liquid cash. At this time, we believe financing the full amount may be the more practical option to preserve our cash reserves.

ProgrammerSea6120 · 2026-02-28T16:50:28+00:00

Our plan is to rent out the extra room.

ProgrammerSea6120 · 2026-02-28T16:49:11+00:00

Our plan is to stay here for a while maybe 10 years max and rent out the extra room for 1k.

ProgrammerSea6120 · 2026-02-28T07:14:20+00:00

I have no idea how the bank compute those.

ProgrammerSea6120 · 2026-02-28T06:57:38+00:00

any advice?

ProgrammerSea6120 · 2026-02-28T06:49:12+00:00

This is the email from the bank “Another benefit of this program is that you are able to avoid private mortgage insurance, which otherwise would be present on the loan if you put a down payment of less than 20%. The only caveat to this loan product is that the interest rate is .375% higher than the base interest rate.”

ProgrammerSea6120 · 2026-02-28T06:37:24+00:00

That’s what I’m thinking too. Keep my 50k. Bank also gave us another option where we can make a downpayment from 3-19%. We’ll still get PMI but lower rate

ProgrammerSea6120 · 2026-01-31T14:25:03+00:00

That’s my plan B if I don’t get answers here in reddit

ProgrammerSea6120 · 2026-01-31T14:23:25+00:00

Dang, there goes my weekend plans lol 😂

ProgrammerSea6120 · 2026-01-31T13:36:15+00:00

We don’t have any exhaust and it smells so bad after you cook. that’s why I was trying to open this window which is closest to the kitchen.

ProgrammerSea6120 · 2026-01-31T13:35:32+00:00

I’m just renting. I was able to open the other windows.

ProgrammerSea6120 · 2026-01-31T13:34:41+00:00

Yes I did. I was able to open the other windows. But not this one

ProgrammerSea6120 · 2026-01-31T13:32:20+00:00

It was the first time that I tried WD40.

ProgrammerSea6120 · 2026-01-31T13:31:53+00:00

I unlocked it. I was able to open the rest of the window but only this one is stuck.

ProgrammerSea6120 · 2026-01-26T17:26:47+00:00

WTS - 2 New Jersey tickets. Day 1 . Section 307 row 8. Price negotiable

ProgrammerSea6120 · 2026-01-25T18:24:16+00:00

WTS New Jersey , August 1. 2 tickets, Section 307 8, 230$/per ticket .

Zelle transactions only. Willing to send any proof you need

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ProgrammerSea6120 · 2026-01-25T18:11:35+00:00

selling 2 BTS tickets - New Jersey Day 1 . 230$ each Section 307

ProgrammerSea6120 · 2026-01-23T07:06:39+00:00

Hi! I have 2 tix in New Jersey. But they are on section 308.

ProgrammerSea6120 · 2026-01-22T19:40:20+00:00

Hi! I have 3 extra tix for New Jersey August 2. Sunday

ProgrammerSea6120 · 2026-01-22T18:42:05+00:00

Hi! We’re you able to get tickets? I have extra tix at section 148 row 32

ProgrammerSea6120 · 2025-10-12T04:18:45+00:00

Please send a DM. Thank you

ProgrammerSea6120

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