Re: How can mortgage payment be this low?

>
>>The other thing the ads don't tell you is that the more you borrow the lower
>>the rate. Over 100,000.00 is lower interest then it goes down again at 250k
>As
>
>That was certainly not my experience. We had to start with a "jumbo"
>loan, which carries a higher interest rate.  When we were able to
>refinance to a conventional loan, we got a much better rate than if we
>had gone for another jumbo.

So you had to start with a highger rate. How much house were you buying? Why
the jumbo?


>
>>Also if you are putting less than 20% down most places require you to carry
>>mortgage insurance. It's not for you it's for them. If you defailt on the
>loan
>
>You can sometimes get around this with what I think is called a
>10-10-80 mortgage.

Explain?