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can you contact a local realtor perhaps the one you used to purchase your house and ask them the question?
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I asked my happy lender (cue accordions and tuba). Given the above information, the PMI seemed to be the least costly, overall, to new homebuyers.
I neglected to mention that 25% LTV would be required for FNMA mortgages to qualify for PMI removal. Apparently HELOCs since 2001-2002, when the prime rate was lo-o-o-o-ow, have been an easy sell, but prospective homeowners might not be asking the right questions.
**the below is a fantasy conversation if homebuyers asked about the difference between HELOC and PMI. This never happened when I spoke to my lender about this hypothetical situation**
Lender: "so that's a standard fixed mtg at 6.5% for 30 years for 85% of the house, and a 7.8% HELOC for 5% of the house selling price."
Homebuyer: "Why not Private Mortgage Insurance?"
Lender: "Because it sucks. You can't deduct the interest on your taxes."
Homebuyer: "Yeah but for how long is the suckitude? Is the HELOC less sucky for longer? Do we want to go for the $60/month for 24 months short-term suck plus the $400 appraisal suck, or $73.55/180-month long-term kinda-suck? What does it take to get out of PMI? What does it take to get out of the HELOC second mortgage?"