2870: How Can I Avoid Paying PMI (Private Mortgage Insurance)? by Laurie Sepulveda of Women Who Money
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.\nEpisode 2870:\nWhen saving for a home, it's often challenging to reach that 20% down payment needed to avoid PMI (Private Mortgage Insurance). Laurie Sepulveda explores alternatives like "single premium PMI" or using a second mortgage, while also weighing the risks and benefits of these options. Whether it's finding a fixer-upper or rethinking your budget, she emphasizes the importance of personalizing your financial decisions to fit your situation.\nRead along with the original article(s) here: https://womenwhomoney.com/avoid-paying-pmi/\nQuotes to ponder:\n\u201cJust be honest with yourself about what you can genuinely afford before you sign on for a mortgage that will be with you for many years to come.\u201d\n\u201cPMI is insurance the homeowner pays in exchange for a smaller down payment. This insurance protects the lender - in case you stop making mortgage payments.\u201d\n\u201cBuying a house with less than 20% down means you\u2019ll have a higher mortgage payment and you'll pay more in total interest.\u201d\nEpisode references:\nThe Power of Now: https://www.amazon.com/Power-Now-Guide-Spiritual-Enlightenment/dp/1577314808\nLearn more about your ad choices. Visit megaphone.fm/adchoices