- 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
re: Dilemma in trying to get rid of PMI while searching for a new home
Posted on 3/20/19 at 11:36 pm to tiger10lsu
Posted on 3/20/19 at 11:36 pm to tiger10lsu
quote:
Is it smarter to save that $150 every month and put in a separate account to make sure I have 20% for house #2 and avoid FHA and PMI payments?
I think so.
If you pay extra principal on the current home, the value of that home could go down and wipe it out. Or you may need to close on the new home before you can sell the old one and access that extra principal.
Putting the extra money in an account, which can easily earn 2% FDIC insured, avoids those issues and could pay off huge if it allows you to make a big enough down payment to avoid PMI for years of notes on the new house,
Popular
Back to top
Follow TigerDroppings for LSU Football News