Originally Posted by
joebenz
you do not need to put 20% down. of course it would be nice if you could so you can avoid PMI. or else you can just get 2 mortgages to avoid PMI.
if you get an 80/20 your monthly payments might come out cheaper than getting a full 100% mortgage with PMI. ( PMI only comes into play if you dont have the 20 % downpayment )
Most people dont have or dont want to put down 20 % anyway.