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Matt Cruz
  • Goldsboro, NC
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10% down without paying Mortgage Insurance?

Matt Cruz
  • Goldsboro, NC
Posted Nov 16 2016, 05:53

Sorry if this is the wrong forum for this question, but I'm hoping someone can shed some light.

Looking to purchase a house to live in (going to rent out my current house).

Purchase price will be somewhere around $410k - $430k.  I would love to put 10% down on this property, however I was hoping to eliminate the need for mortgage insurance.  

What is the best type of loan to get in this situation, and is there anything out there that exists for what I am looking for? I've done a bit of reading on FHA, conventional 97, etc... but I'd rather get an opinion from an expert.

Thanks!
Matt

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