@melissadorman: Everyone tells you that you need 20% down. Nobody tells you where that number came from. It isn't a law. It's the threshold where a lender stops requiring mortgage insurance. That's it. That's the whole origin of the rule that has kept a generation out of homeownership. Conventional loans go down to 3%. FHA goes to 3.5%. And I'll be straight with you: putting less down usually means a slightly higher rate and a PMI payment, so it isn't free. It's a trade, and it's a trade a lot of people would take if anyone had explained it to them. The part almost nobody hears about is the third option. When the seller carries the financing, there's no fixed down payment at all. There's no underwriter with a threshold. It's two people agreeing on terms. My triplex here in Portland cost $731,050 and by the time it was leased up I had about $500 of my own money in the deal. I still own it and it still cash flows. You weren't bad with money. You were told a policy was a law. DM me FREEDOM and I'll send you my free book on how these deals get structured. #sellerfinancing #firsttimehomebuyer #realestateinvesting #homeownership
My daughter paid PMI for the last 10 years , she has the equity to drop the pmi but the bank told her that she needs to refinance because they the bank said they paid PMi
2026-09-02 22:14:37
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