Acton, Agua Dulce, Canyon Country, Saugus, Valencia, Newhall, Stevenson Ranch, & Val Verde
Right at this moment we have 650 homes available for sale. Condos, townhouses, single family residences.
In escrow are a whopping 354. Buyer & Seller have come to an agreement and are working through inspections, disclosures, appraisals, etc.
Sold in the last 30 days sits at 171. Not that many, but the Spring season is coming!
So, you want to buy a house, or you want to sell yours? What's with that PMI? For a Seller, who cares? You're getting money regardless, so skip this part.
For a Buyer, PMI (Private Mortgage Insurance) is tacked onto your loan if you do less than 20% down because you are a greater risk to the lender. When that happens they've got to cover their tush if the cloud breaks on your finances and it rains debt that doesn't allow you to pay your mortgage.
But, dang, do you have to pay that PMI forever??? Currently, below is the way to get rid of that dang extra payment. Thanks to one of my lender pals for putting it in easy-to-read language. So there you go!
To get rid of PMI on a conventional loan you must wait 2 years and have 25% equity in your home, or wait 5 years and have 20% equity in your home. You must not have late payments in the past 12 months and you would need an appraisal to prove your equity position. FHA, the PMI is with you for the life of the loan unless you put down more than 10%. Then the PMI is there for 11 years!
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