Re: About to buy a house
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Make sure that, if you don't have 20% for a down payment, that you get an 80/20 loan (or put 5% down and get an 80/15, etc). You do NOT want to be stuck throwing away money on PMI.
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Or get an 80/10/10. Get a mortgage for 80%, put 10% down, and get a Home Equity against that 10% for the remaining 10%. You can probably get a better rate on the HELOC than on the mortgage (so you're paying less interest against that 10%), and you don't have to pay PMI.
PMI definitely blows, do what you can avoid it.
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