Myrtle Beach Real Estate Market Not On Distressed List

Posted By Steve Gruenwald @ Dec 17th 2010 7:16am In: Pawleys Island Business

Private Mortgage Insurance Companies have removed Myrtle Beach from their Distressed Property Area List. What does that mean for the consumer who needs financing to purchase property? You can now purchase your primary residence with conventional financing for as little as 3% down payment and 10% down on a second home. This currently applies to only Horry County. Naturally, some conditions do apply depending on creditworthiness. Will you still pay PMI (private mortgage insurance) with less than 20% down? Yes.

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