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re: 20% down on a house…is it dumb?

Posted on 2/5/22 at 2:02 pm to
Posted by dandan
Member since Nov 2007
4348 posts
Posted on 2/5/22 at 2:02 pm to
You avoid pmi with 20% down
Posted by UltimaParadox
Huntsville
Member since Nov 2008
40889 posts
Posted on 2/5/22 at 2:04 pm to
quote:

You avoid pmi with 20% down


This... Usually makes sense just to avoid PMI.
Posted by ronricks
Member since Mar 2021
7107 posts
Posted on 2/5/22 at 4:54 pm to
quote:

You avoid pmi with 20% down


If you have great credit and debt to income ratio pmi is negligible. I think it was $50 a month on my last mortgage when I put 10% down. With these low rates there is no reason to put 20% down unless your credit is shite.
This post was edited on 2/7/22 at 9:05 am
Posted by ColoradoAg03
Denver, CO
Member since Oct 2012
6225 posts
Posted on 2/7/22 at 4:15 pm to
You can avoid PMI with just 10.01% down now if your credit is good enough.
Posted by Bearcat90
The Land
Member since Nov 2021
2955 posts
Posted on 2/14/22 at 4:28 pm to
quote:

You avoid pmi with 20% down


I got a loan through Huntington Banks with only 15% down and no PMI.
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