- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
3
Posted on 7/29/16 at 5:44 pm to HailToTheChiz
I'm closing Tuesday. I did conventional and 5% down, 30yr fixed.
My (ideal) plan is to pay extra on it to get rid of the PMI quicker. PMI is an additional $175 on the mortgage per month, so that is something you could definitely live without (saving $2100 a year!).
I'd say go with the 5% down and pay off PMI. If it is a condo/townhome and you don't plan on living there in 15 years, you could always keep it as a rental. If you did this, I'd get rid of the PMI quick and start saving money towards your next purchase.
My (ideal) plan is to pay extra on it to get rid of the PMI quicker. PMI is an additional $175 on the mortgage per month, so that is something you could definitely live without (saving $2100 a year!).
I'd say go with the 5% down and pay off PMI. If it is a condo/townhome and you don't plan on living there in 15 years, you could always keep it as a rental. If you did this, I'd get rid of the PMI quick and start saving money towards your next purchase.
Posted on 7/29/16 at 5:57 pm to HailToTheChiz
Because if u buy a house for 200k putting down 40k over 7k to save 133 a month is crazy so everyone fears MI
Id rather have 33k in my bank and pay an extra 133 a mnth than that money be in the wall paper of my home where i cant access it
Id rather have 33k in my bank and pay an extra 133 a mnth than that money be in the wall paper of my home where i cant access it
Posted on 8/1/16 at 7:58 am to HailToTheChiz
I have an Rural Development Loan and I pay zero PMI.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News