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**JET** · 04-01-2005

Mortgage insurance is usually ~$100/mo, but you can do like I did and do a 0% down. That will give you a first and second mortgage, but no PMI. I am paying extra on my second mortgage, so once that is done I will be set. You can always just refinance after 2-3 years and you will be able to put it on one mortgage also because you will have 20% equity.

You are MUCH better off buying the house early and paying a tad extra than waiting and saving up 20%. It isn't even close. By the time you save up 20%, the house will probably have went up 20% in value, and that is money you lost out on.

04-01-2005	#6
JET Is funding Exxon. Join Date: Oct 2003 Location: Ham Lake Drives: like a bat outta hell! Posts: 7,983	Re: The time has come... Mortgage insurance is usually ~$100/mo, but you can do like I did and do a 0% down. That will give you a first and second mortgage, but no PMI. I am paying extra on my second mortgage, so once that is done I will be set. You can always just refinance after 2-3 years and you will be able to put it on one mortgage also because you will have 20% equity. You are MUCH better off buying the house early and paying a tad extra than waiting and saving up 20%. It isn't even close. By the time you save up 20%, the house will probably have went up 20% in value, and that is money you lost out on. __________________ Is burning corn and stayin' warm! My motorcycle is stock and reliable, my Talon is neither!