Which is better?20% vs 15% down with PMI??

[Toby Russell]

Looking at different lender and most are 20%. Everyone know that but I found one that is 15% down but with PMI Insurrance. How do the numbers workout when PMI is factored in? Which is better

[Jacob Ehrgott]

I feel confident saying go for the 20% down with no PMI. If it was 20% verse an fha 3.5% down loan then each side has interesting arguments but it's not worth having a sizable PMI payment at no benefit to you for 5% less down.