Contemplating putting 20% down payment on a primary residence versus 10% to save paying PMI? The 20% would spend a large majority of savings! Any input of pros and cons would be helpful, thanks.
Yup, it just depends on your financial situation and what you want to do..
You think of the pmi as basically overal having a slightly higher interest. It’s just the cost of “business” if you want a 10% down payment. Also, you can look forward to when you reach 20% since a conventional loan will allow the pmi to come off.