Pros & Cons of a 20% Down Payment on a Home.
Introduction
Owning a home is one of the biggest milestones for some people. A place to own and call home is something many wish they could do, but are unfortunately not able to. When an opportunity arises, many people think about their life within the home they are buying, but do not think about the financial risk. Majority of the conversations that occur in the workplace, or outings with friends, revolve around a 20% down payment on a mortgage to avoid Private Mortgage Insurance - otherwise known as PMI. Due to hearsay opinions, this concept of 20% down on a house or the “wasted” money on…
The skinny
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