Tag: PMI
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The 20% down payment rule is outdated boomer advice
Saving 20% before buying a house made sense in 1985. Today it can cost more than it saves. Here’s when the old rule is wrong.
Saving 20% before buying a house made sense in 1985. Today it can cost more than it saves. Here’s when the old rule is wrong.
The 20% down payment rule sounds prudent, but waiting years to hit it often costs more than PMI ever would. Here’s when smaller down payments win.
Private mortgage insurance has a bad reputation in personal finance media, but the math often favors paying it. Waiting to hit 20% can cost more than PMI itself.