Quote:
Originally Posted by Bearcat
And make sure you have 20% to put down when you buy, because after the bank tells you they'll give you far more than you want or can actually afford on a house, they need to cover their own ass with PMI.
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That's if you have the 5% to apply for conventional, if you have to go FHA that doesn't ever go away. I'm currently paying PMI until I get my other house on the market and sell it. Then I can recast the loan and it will drop off. I don't like paying it for a couple months, can't imagine paying it for years.