re: Question About PMI/Home Buying (Update on pg 3)

You can prepay PMI at closing, and save some money. It's not something that's always mentioned, but I just did it when I refi'd about 6 months ago. You'll have to bring more to the closing table, but it won't be something you have to worry with monthly, and it takes out having to get another appraisal when you think you hit 20%.

Not to mention that PMI might be worth it to go ahead and lock in the low interest rates. They won't be low like this forever, so it may be worth it to pay PMI for a couple of years to keep your rate low. The lender should automatically remove PMI at 78% LTV (at least I believe that's true).