A 20 percent down payment is the gold standard held up by every real estate resource ever. With less than 20 percent down, you’re on the line to pay PMI — private mortgage insurance — a fee that’s tacked on to your mortgage every month for no other reason than to protect the bank (not you) if you ever default on your loan.
from http://www.apartmenttherapy.com/house-mortgage-down-payments-should-you-wait-until-you-have-20-percent-down-252813
from waaaay over here —> We’re Breaking it Down: When Waiting for 20% Down Is The Wrong Choice
from Sofia Consola
via We're Breaking it Down: When Waiting for 20% Down Is The Wrong Choice
