Hi everybody,
I am 26 years old and currently living at home. Due to some changes in my family, it looks like the free ride will be coming to an end way shorter than I thought, so I am looking for a place to live.
I have absolutely zero debt and $56,000 saved in the bank. I have been looking at townhomes lately and found one for $234,900. My question is:
Do I plop down $47,000 as a down payment and get out of PMI, or do I put less down, pay the PMI but have more money in the bank to fall back on?
I can afford both payments but there is a fear about not having any money in the bank.
Less down (around $25,000) would increase my payments about $300 a month.
What would you do?
Submitted August 02, 2021 at 10:41AM by Ecstatic-Emu-128 https://ift.tt/3ypgabe
