In some circumstances, PMI can be avoided by using a piggyback mortgage.It works like this: If you want to purchase a house for $200,000 but only have enough money saved for a 10% down payment.

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 · However, you don’t have to put 20% down to buy a home. In fact, many people are able to buy a home with just 10% down. There’s just one hurdle to overcome: private mortgage insurance (or PMI). In this blog post, we’ll explain the problem with private mortgage insurance and how you can put 10% down while still avoiding PMI. The Problem with PMI

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So, for a $200,000 loan a borrower might pay nearly $100/month on PMI premiums, or over $1,000 each year. When you think about it, that amount really starts to add up. Obviously, the larger the mortgage and the smaller the down payment in terms of percentage, the larger the PMI payment.

You may be surprised that this is so far down the list and certainly an argument can be made that it should be higher. But in.

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PMI is calculated based on a combination of factors. Usually, the more money you put down, and the shorter your loan period, the smaller your PMI payments will be.

The most straightforward way to avoid PMI when buying a home is to put down 20% when you get your mortgage. When you put down 20% of a home’s purchase price in cash and finance the other 80% with a mortgage, your loan presents less risk to the lender.

How to Avoid Paying Private Mortgage Insurance. The best way to avoid paying PMI is to not have it on the loan to begin with! If you are purchasing a new home, but won’t have a significant down payment, ask your loan officer for suggestions on avoiding PMI.

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One way to avoid paying PMI is to make a down payment that is equal to at least 20% of the purchase price of the home. If your new home costs $180,000, for example, you would need to put down at least $36,000 to avoid paying PMI.

If you wanted to make a lot of money, quickly, you could not have. down fifteen to twenty per cent.” Professor Chris.