vandy125 Posted March 23, 2006 Share Posted March 23, 2006 QUOTE(Steff @ Mar 23, 2006 -> 09:51 AM) For those of you with PMI, did you not consider borrowing the additional funds via a home equity/line of credit to not have to pay it? PMI is the biggest rip off. I guess that mine actually isn't a PMI payment. It is a secondary loan to pay the down payment needed on the first loan to avoid PMI, but at my last place I did pay PMI. I did that because it was my first house, so I had no equity to borrow the additional funds. I was tired of sending monthly rent checks that were not going towards anything, and figured it was better to pay PMI, but still have the money go somewhere. Quote Link to comment Share on other sites More sharing options...
Steff Posted March 23, 2006 Share Posted March 23, 2006 QUOTE(vandy125 @ Mar 23, 2006 -> 09:56 AM) I guess that mine actually isn't a PMI payment. It is a secondary loan to pay the down payment needed on the first loan to avoid PMI, but at my last place I did pay PMI. I did that because it was my first house, so I had no equity to borrow the additional funds. I was tired of sending monthly rent checks that were not going towards anything, and figured it was better to pay PMI, but still have the money go somewhere. OK, good. These days you can buy a house borrowing up to 97% of the value. I just don't see the point in paying PMI ever. It is better then paying rent though. Quote Link to comment Share on other sites More sharing options...
THEWOOD Posted March 23, 2006 Share Posted March 23, 2006 1580/month....1 bedroom/1bath...including water/gas/electric/heat and ac.....i pay extra for cable and interenet which is around 125 a month Quote Link to comment Share on other sites More sharing options...
Balta1701 Posted March 23, 2006 Share Posted March 23, 2006 My rent payment would be some of your mortgage payments. Quote Link to comment Share on other sites More sharing options...
bjm676 Posted March 24, 2006 Share Posted March 24, 2006 Mortgage is around $700 per month for our 2 br, 2 bath condo. Not including assessments, of course. Actually, just got an escrow re-analysis a few months ago from the mortgage company and nice little check from them. Quote Link to comment Share on other sites More sharing options...
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