Mortgage insurance: Added cost to homebuying or smart way to get in?

Houses can be purchased with less than 20% down payment

The homebuying process is exciting, but can also seem fraught with added costs, like a home inspection, title insurance and closing costs.

And if you can’t afford a full 20% down payment on a conventional home loan, then you will most likely pay for private mortgage insurance.

Some people consider private MI yet another added cost, but it helps creditworthy middle-income homebuyers qualify for home financing sooner with a low down payment. Is it really an added cost if it saves time and mo...

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