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

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she has student loans from PT school that are $1250 a month for the next 8 years.

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ugh, that sucks. sorry

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Question is, although I'd like to put down the 20%, what are my other options? If I put down 10%, how much will I be paying on PMI

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there are loans where you can put down less than 20% and not pay PMI, just have to do some research.

You can try an 80/10 loan.

On my home, I put down 15%, and the seller held a 2nd mortgage (5%), then my lender gave me the 80%

no PMI

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Once I hit 20%, will the PMI automatically fall off?

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i believe you must pay 5 years worth of PMI regardless if you get 20%, but you can always refinance and have the PMI drop off.

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we are trying to make some babies right now. We can definitely stay here with 1 baby but I'm thinking 2 more years and I'll be ready to go.

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we are in a similar situation. our current place is fine for 1 kid, but I want a big old house way out in the suburbs with a huge yard..so we're casually looking now