About to buy a house - Two Plus Two Older Archives

#16

07-27-2005, 04:02 PM

chaas4747

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Join Date: Jan 2005

Location: Ask Bellucci, she\'s the one making the face

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Re: About to buy a house

Always worse. The PMI is not tax deductible. Also you are paying for insurance you will never use on your house unless you default. The 80/20 you are actually paying down the price of your home, at a higher interest rate that is tax deductible. You are still applying payments to 20% of the equity in you home in the second scenario.

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