Quote:
Originally Posted by ///WORK-F36
You can go with LPMI (lender paid PMI) programs where it equates to a rate a little bit higher, but no PMI. It all comes down to the overall payment, and how long you're going to be in the loan. No one keeps a 30 year fixed 30 years, most people refinance every 5-7 years. The rate is not better though with a 20% down payment compared to a lesser down payment. You don't see an improvement on the interest rate until you put 25% down or more
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Good to know. Thanks for the info guys!
Never knew that you don't necessarily have to pay for PMI with less than 20%. I'm curious if it's as secured to go with a smaller bank than the big guys. Sorry for thread hijack OP. Just thought that these questions are pertinent.