There are 3 basic tiers for pricing
80% LTV
75% LTV
60% LTV
It’s a cut & dried matrix table, non negotiable.ALSO
Credit score, cash out & 2nd Lien/HELOC are factors.
So is condo VS house AND primary home/2nd home vs. Rental property.
Don’t forget the the % difference you will save applies to the entire $417,000. For a cost of $20K it not only lowers your monthly payment, it’s a huge guaranteed good return in today’s market.
I would not think twice about taking a 401K loan OR pulling money out of any non penalty retirement account to get the money.
I completely understand the desire & comfort associated with having a large cash cushion, but with good credit, there are many ways to access cash cheaply these days.
Every situation is a little different. Feel free to contact me privately if you’d like to discuss your specific situation. There’s no pressure or obligation.
