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Whether you're trying to conserve a cash cushion or buying in a fast. down payment is the only way you'll be able to afford to buy a house.
how long do i pay mortgage insurance private mortgage insurance, or PMI, is insurance that lenders require borrowers to have when they get a mortgage and don’t have enough equity in the home. For many buyers seeking a mortgage, avoiding the added expense of PMI means coming up with a 20% down payment when buying a home.Unfortunately, it’s not always easy for new home buyers to come up with that kind of cash, but there are a few.
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The truth is, there are several ways for buyers to reduce their down-payment expenses when buying a house. This article explains one strategy.