Comments on: Why A Large Down Payment Isn’t Always Best, Take Two. http://debitversuscredit.com/personal-finance/loans-and-credit/large-payment/ A personal finance blog dedicated to fighting financial ignorance Thu, 02 Feb 2012 03:05:35 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Bret Frohlich http://debitversuscredit.com/personal-finance/loans-and-credit/large-payment/comment-page-1/#comment-525 Bret Frohlich Sat, 31 Jan 2009 07:28:50 +0000 http://debitversuscredit.com/?p=892#comment-525 The spreadsheet and analysis are interesting. But, you will likely get a better interest rate and avoid PMI (Private Mortgage Insurance) by coming up with a larger down-payment. PMI is a 100% waste of your money. Then, if you really want to save, you could pay a little extra on your monthly payments. This would be about the same monthly payment as with a smaller down payment. You could cut years off of the mortgage and save thousands of dollars, all with the same monthly payment. <abbr><em><abbr><em>Bret Frohlichs last blog post..<a href="http://feeds.feedburner.com/~r/BretFrohlichcom/~3/519500480/" rel="nofollow">Why I Never Budget</a></em></abbr></abbr></em> The spreadsheet and analysis are interesting.

But, you will likely get a better interest rate and avoid PMI (Private Mortgage Insurance) by coming up with a larger down-payment. PMI is a 100% waste of your money.

Then, if you really want to save, you could pay a little extra on your monthly payments. This would be about the same monthly payment as with a smaller down payment.

You could cut years off of the mortgage and save thousands of dollars, all with the same monthly payment.

Bret Frohlichs last blog post..Why I Never Budget

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