Is PMI difficult to get on a 95% LTV transaction?
In Maine, you probably are not dealing with as many of the issues thatthe rest of the country is dealing with. I don’t believe that any part of Maine is deemed a “declining market” which would make PMI difficult to obtain. PMI approval is one of the first resolutions done in the underwriting process so I would doubt you are being strung along by the buyers without having that solidified thus far. Also, it is possible that they are obtaining FHA financing instead of conventional but you would know this ahead of time because there are some FHA forms that sellers must sign. PMI for 95% is still available and would be avilable to “well-qualified” buyers. If you are being assured that this is the case, then you should rest easy. However, you could ask for a conditional loan commitment which would disclose if the loan were still in need of obtaining PMI approval. I don’t think you are being overbearing by asking for such an approval. Obviously most sellers are concerned in this market that t
