| PMI vs. 80-10-10 or 80-15-5 Loans |
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smhart
New Poster
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Joined: 06 Dec 2007
Location: Silver Springs
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| PMI vs. 80-10-10 or 80-15-5 Loans |
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Hello,
I'm buying a new home and I have received conflicting information regarding paying PMI versus paying 80-10-10 or 80-15-5. The loan is 30 year jumbo fixed, is it best to pay PMI or go with a 80-10-10 or 80-15-5 to avoid paying PMI? Thanks!
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Thu Dec 06, 2007 10:33 pm |
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smhart
New Poster
Cash: $ 0.45
Posts: 2
Joined: 06 Dec 2007
Location: Silver Springs
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quote:
Originally posted by coaster
Hard to say unless one knows the amounts, closing costs, interest rate, etc. You could work it out in a spreadsheet and the math is fairly easy if you could get amortization schedules for each loan. Otherwise there are spreadsheet functions that will do that, but they're a little more complicated to use. I always have to go into the help when I use those in Excel. You've got to know which numbers have to be entered as negative and which positive. It gets confusing. 
Thank you responding! 
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Fri Dec 07, 2007 3:07 am |
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