5 ms·

I put down 5% a few years and was able to avoid PMI by taking a higher rate (about 5%) -- forget what doing this actually called. You can take the increased int

by kmano8 7y ago

I put down 5% a few years and was able to avoid PMI by taking a higher rate (about 5%) -- forget what doing this actually called. You can take the increased interest as a deduction, but not PMI.

awinder 7y ago
It's called lender-paid mortgage insurance, which comes in 2 varieties, the one you did where you take a higher interest rate or as a single one-time charge