I received the PMI agreement from Citi. The first thing I noticed is that my signature is nowhere to be seen, which I suspected. In fact, I don’t think I’ve ever seen this. The other thing I noticed is that the appraised value does not appear to be correct, although that’s not important. So basically, …
See earlier post. I finally told my loan agent I was going to visit his office to see if we could get some of these errors straightened out. He didn’t seem to be too enthusiastic about about me dropping by for a visit. In fact I couldn’t even get in the door. The main entrance …
I made PMI payments as discussed in my last post for about two and a half years. Even though interest rates were low at the time my loan was made, the higher percentage due to it being an investor property, combined with the PMI, made the effective rate over 7% (and climbing). I was looking …
I only put down 10% on my investment property. Generally, when you put down less than 20% on a property (LTV of 80%), you either need to purchase Private Mortgage Insurance (PMI) or you need to take out a second loan. For investment properties, you might need an LTV of 75% or less. I don’t …
OK, so it’s really a credit union. Back in August of 2010, when mortgage rates were at all time lows, I decided to refinance both an investment property and what used to be my primary residence before I lost my job. NASA Federal Credit Union was ranked A+ by the BBB. My brother had used …