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I’m in contract for an existing condo and despite having been pre-approved, having perfect credit and no debt, I can’t seem to get 90% financing. It seems to be an issue with PMI.
I’ve been told by a rep at Bank of AMerica that they might be able to put me in a SONYMA loan, and after checking it out, it seems like a really good product, but I’m worried about the inevitable headaches of going through the state. Does anyone have any experience with these loans ?