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June 16th, 2005
09:52 am


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I was finally able to talk to the mortgage guy at Washington Mutual. I gave him all the info for the pre-approval, and he said he'd have an answer for me next week. And he said that what they would do was a first mortgage at 80% of the purchase price, and then a second mortgage for 10%, and then I would contribute 10%. This way, I avoid having to pay PMI. If the purchase price is low enough, the money I make off of my current place will be 20%, so I'll only have to deal with the one mortgage. So, here's hoping I find a nice cheap place.

I need to remember to call the realtors and let them know that my neighbor agreed to let them put a sign in the yard. And I should also probably apply for at least one other pre-approval, so that I can compare rates and such.


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