Re:New Home Prices Are Starting to Drop
by vel0city on Tuesday August 09, 2022 @11:06AM
(#32399029)
> If you can, then it is better.
That's the whole point of my comment, it isn't always better. I could have avoided any PMI by waiting a bit longer to amass more savings to have a larger down payment. But in doing so I would have avoided <$1,000 in PMI payments but increased the cost of the house by >$100k. It was definitely the better move to just pay the PMI in this case than to try and avoid it.
I'd gladly pay $1,000 to make something >$100,000 cheaper in the end.
That's the whole point of my comment, it isn't always better. I could have avoided any PMI by waiting a bit longer to amass more savings to have a larger down payment. But in doing so I would have avoided <$1,000 in PMI payments but increased the cost of the house by >$100k. It was definitely the better move to just pay the PMI in this case than to try and avoid it.
I'd gladly pay $1,000 to make something >$100,000 cheaper in the end.