Quote:
Originally Posted by Pintsize725
The second zero percent is for the down payment assistance the program offers. Essentially deferring that cost. We are over 700 but have $0 for down payment so we're SOL.
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So I’m going to guess that the non-amortization is for them to recover the down payment assistance before you start paying down principal.
If you aren’t buying a brand new house, I highly recommend buying a home warranty. You can require it from the seller for the first year but you’ll be responsible after that. If you don’t have down payment money then I assume you wouldn’t have ‘replace the A/C’ money. At least with the warranty you’d be covered for a $100 deductible