🤔 PMI vs no PMI
Summary
The video explains the pros and cons of paying private mortgage insurance (PMI) when buying a home with less than 20% down. Paying PMI allows you to buy a property sooner, build equity, and potentially benefit from property appreciation, but it does add an extra cost to the mortgage. The alternative is waiting to save a 20% down payment, but that carries the risk of increased rent, rising property prices, and missing out on potential equity gains.
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