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Personal Finances / Buying or Selling a Home


Subject:  Re: question: down payment on my first home Date:  5/14/2013  11:34 AM
Author:  inparadise Number:  125274 of 128887

The property costs about 240K, and with a 3.75 APR and 10% down, my monthly payment is about $1,750. On the other hand, I could put 20% down, get rid of PMI and reduce my monthly payment to $1,540. The property can be rented anywhere from $1,700 to $1,950+ a month. First I want to rent it and maybe move in there in a few years down the road.

Is this an investor rate???? If you intend to rent it out, you need one.

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