How do I avoid PMI on a mortgage?
Three ways to avoid PMI: (1) put 20% down on a conventional loan, (2) use an 80/10/10 piggyback loan structure, or (3) get a VA loan if you're a veteran. FHA loans have similar mandatory mortgage insurance (MIP) regardless of down payment.
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Three ways to avoid PMI: (1) put 20% down on a conventional loan, (2) use an 80/10/10 piggyback loan structure, or (3) get a VA loan if you're a veteran. FHA loans have similar mandatory mortgage insurance (MIP) regardless of down payment. The exact answer depends on your specific situation — the numbers above are a strong starting point, but the right next step is to plug in your actual figures.
For a deeper analysis, use one of the related tools below — they take your specific income, debt, location, and goals as inputs and produce a tailored answer.