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Buying & Selling Real Estate

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David Jackson
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Would you pay 20% down or pay PMI.

David Jackson
Posted Jun 17 2020, 17:12

You have limited funds of 200k cash. Would you pay 20% down OR pay 10% down with PMI?

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Aaron K.
  • Specialist
  • Riverside, CA
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Aaron K.
  • Specialist
  • Riverside, CA
Replied Jun 17 2020, 17:19

20% down all the way it gives you more of a cushion if something were to go wrong and look at it this way what do you save on that 10% by putting it down. So take the amount you save by not having PMI every month multiply by 12 and divide by the 10% down payment and you'll see the ROI for that decision.