There are two ways to run the analysis. One is quick and can be done on the back of a napkin. The other is more detailed, best done in a spreadsheet. In this part one, we will explain the quick math.
Talking about the question “How should you manage your money in 2018?” this show covers a lot of ground over 23 minutes of conversation.
Avoiding PMI, if possible, is better for your long-term finances. Here are three strategies to avoid PMI.
PMI does not provide you, the borrower, any protection.
There is a complex way, but we don’t recommend the strategy.
If you prefer to keep your down payment money invested in the markets for longer, there are two alternatives.
Most Americans have a home mortgage. The rich often have two.
This should not produce a hand-wringing vacillation between the two answers.
Although it is possible, buying a house without a credit history will require you to jump through some uncommon hoops to find a competitive rate.
Some say don’t make extra payments, take the tax deduction. Others say you need to be debt free.