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re: What's the most amount of money you'd put down on a new house? It would be a new build.
Posted on 3/3/24 at 10:45 pm to Mariner
Posted on 3/3/24 at 10:45 pm to Mariner
quote:
The mortgage insurance for the other 10% financed is a silent killer. One of the biggest mistakes I made when purchasing my first home. If I had waited another 8 months I would have saved thousands in mortgage insurance.
How?
I put down 10% on my first house. I paid like 350 bucks total in pmi before refinancing a year later when I got it dropped.
2
Posted on 3/4/24 at 5:46 am to JohnnyKilroy
“Enough to make you payment to where you can afford it on a 15 year note”
The David Ramsey sheep have entered the building.
The David Ramsey sheep have entered the building.
Posted on 3/4/24 at 6:05 am to JohnnyKilroy
I refinanced when I was not at 20%. A couple months later I called the mortgage company to say I paid down the debt and now am at 20% so take off the PMI. They said you have to have the loan for at least 2 years before they can take it off. I paid PMI for 8 years. Yes I know that is crazy. I learned a hard lesson.
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