FHA also requires PMI though that does not fall off when you have 20% equity. It remains for the life of the loan. FHA benefits? A lot lower down payment, debt to income ratio can be higher, and no need for a co-signer. I really don't see a downside to starting off with an FHA loan, and then refinancing in a few years to a conventional.

Yeah, that's actually what I was trying to say, but didn't word it well. I had an FHA loan, which I just refi'd into a conventional loan. My income meant the PMI was no longer a tax-write off, so I had extra reason to refinance. The difference between when I got my FHA and new FHA loans is that PMI is for the life of the loan (when I got mine, you were able to reassess based on equity after 5 years). So to drop PMI now, you need to refi into a conventional.

One word: outsourcing. You can take your pick from the highly competitive firms of Goons 'R' Us, Goons Goons Goons, or Goons Thugs and Beyond.

And it might be a higher interest rate in the future when you no longer need PMI.

Good info, thanks. My other research is saying to expect a longer escrow for FHA. Like 4-8 weeks. That will be a question I ask tomorrow.

Next up, realtor. I have a couple recommendations I'm going to check out.

You can take your pick from the highly competitive firms of Goons 'R' Us, Goons Goons Goons, or Goons Thugs and Beyond.

Oh, the hammock goons district! t /Simpsons

I wish I knew what the terminology was for my refi. Not at 20%, but no pmi anymore. Now, I'll want to refi again when I can hit that 20% if interest rate is favorable. Otherwise I'll stick with this. Long term, if I had kept my original interest rate, I'd've seen a monthly drop after x years sticking with it. Under current rate+ no pmi, it comes out to basically the same total payout, but less monthly now, just unchanging but for property tax variations. So, a gamble I couldn't lose. The only kind I prefer to take.

Oh, Scandal. So many words.

I had to TCB, vacation starts Saturday.

This past month I have paid penalties on 2 bills for late payment and almost overdrew my bank account. Also, let's not forget the 2 days of anxiety attacks from watching Hoarders. It is time to get back in control. Knowing my house was not only cluttered, but actually dirty was not helping. At least I got a good chunk done. The to sell pile is getting to large to deal with, I need to actually start selling. Mac will be gone for 4 full days, so my hope is I can motivate myself to list a few things each night and within a week a good part of the pile will be sold and gone. I bet I have $400-500 sitting there in sales.

msbelle, your house is so far from Hoarders, let that go.

I find it hilarious I'm emailing with the pool coordinator about cookies. I promised Rashad snickerdoodles sometime this oven season and need to see if he's scheduled soon and now she's all COOKIES. More baking the next few days. I like baking and giving it away.

I had to put 20% down on my current house, since I already had a mortgage, so my loan is conventional. I ended up with a 4.6% APR on a 30-year fixed. There was no way I was complaining, since it was maybe 0.3% higher than if I wasn't buying a second house. It's infinitely better than the 6.5% I've been paying on the house in MD.

msbelle, please don't be so harsh on yourself. Listen to sara.

Cookies! And banana bread, which interests me more. I hate ripe bananas but I looooove banana bread. Too bad I have to smell the overripeness to get it.

I desperately need a vacation. Just putting that out there.