09-18-2020, 07:35 AM
Obviously you dont want to pay PMI. Especially now, or if you got into a program that doesnt allow it to be canceled without a refinance (or not at all). BUT i think we did "okay" with PMI in the grand scheme of things. in the last 3 months distressed homes (both needing cedar siding replaced, complete roof jobs, flood mitigation, etc) in the neighborhood sold for what we purchased our home for.
Looking back i think we got a good price on the house and is a big reason we pushed to get the house, PMI and all. A lot of that had to do with a crappy realtor that only put 6 pictures up of the house (4 were the outside of the house in every season lol)... and they didnt add more pics until we were under contract! our current appraisal is right about where i think we should be... with some budget friendly upgrades to increase value and possibly get people into a bidding war when we actually sell.
i would not get into a house today with PMI, i dont think there are legit deals out there right now worth taking the PMI hit for the time you over pay to get rid of it.
Looking back i think we got a good price on the house and is a big reason we pushed to get the house, PMI and all. A lot of that had to do with a crappy realtor that only put 6 pictures up of the house (4 were the outside of the house in every season lol)... and they didnt add more pics until we were under contract! our current appraisal is right about where i think we should be... with some budget friendly upgrades to increase value and possibly get people into a bidding war when we actually sell.
i would not get into a house today with PMI, i dont think there are legit deals out there right now worth taking the PMI hit for the time you over pay to get rid of it.
#99 - 2000 Civic Si (Future H2 Car, Former H1 car)
IPGparts.com, AutoFair Honda, Amsoil, QuikLatch Fasteners
NASA-MA Tech Inspector (Retired)
IPGparts.com, AutoFair Honda, Amsoil, QuikLatch Fasteners
NASA-MA Tech Inspector (Retired)