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sonyma (no upfront mortgage insurance)

Started by jimmcp
about 16 years ago
Posts: 58
Member since: Jul 2009
Discussion about
Did you know that SONYMA allows 97% financing with out the upfront Mortgage Insurance and as little as 1% borrower contribution? They offer this on Coop's, which FHA does not. If you fall within their income limit of $92,160, I would highly reccomend that you look into getting one of these loans. Please give me a call: Jim McPartland The McPartland Group Bank of America Home Loans 646.556.0500 james.mcpartland@bankofamerica.com
Response by ItzJimmy
about 16 years ago
Posts: 21
Member since: Jul 2009

Whats the turn around time?

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Response by alanhart
about 16 years ago
Posts: 12397
Member since: Feb 2007

And all you need to do is put 30% down to satisfy the coop.

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Response by dg156
about 16 years ago
Posts: 269
Member since: May 2007

Can the loans be more than 417K? In which case one may have a smaller second mortgage as well.

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