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Re: Is the housing boom over?
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Originally Posted by S2kracka
Just remember guys, if you aren't able to put 20% down, you'll have to buy mortgage insurance. Not that expensive, but still an added expense for really nothing.
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Actually there is a way around that. I have a 1st and 2nd mortgage on my house. It ends up being a tad cheaper than if I had mortgage insurance, but my 2nd is only a 20 year loan and if I pay it off early, all the better. Most people refi within 3 years anyway, so it isn't a big deal.
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