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Got a VA loan but payed the down anyway to avoid PMI. Interest on VA is pretty low and it's awesome to get the initial balance down a little. Paying a little m
by potta_coffee 8y ago
Got a VA loan but payed the down anyway to avoid PMI. Interest on VA is pretty low and it's awesome to get the initial balance down a little.
Paying a little more per month toward the balance is also a great way to save. Bad idea to base home-buying choices merely on what payment you can afford to pay every month.
- matwood 8y agoVA loans shouldn't have PMI.
- potta_coffee 8y agoSorry, not PMI...if you go zero down, you have to pay a funding fee, and it's pretty substantial. If you put a down, you don't pay the funding fee and the money goes toward your balance instead. I was getting my wires crossed on PMI because I tried several loan options.