reese124•4d agoProlific Poster

Am I the only one who used to think a 20% down payment was the only way to buy a house?

I was saving for years in Seattle, but then my lender showed me a first-time buyer program that only needed 3% down. We closed on our condo last month because of that shift. Has anyone else used a low down payment program and how did you feel about the PMI?

3 comments

3 Comments

jesse_green554d ago

No kidding. I felt like a sucker saving all that cash. PMI? Small price to pay for not renting another year.

the_linda4d ago

Actually, PMI can be removed later once you hit 20% equity, so it's not always a permanent cost.

jamiew534d ago

Seriously, PMI is just the price of getting in the door...