My entries and thoughts on refinance
This will of course result in higher monthly payments for you. Furthermore, you will still be required to purchase PMI since you were not able to pay the required 20 percent down payment. Let us look into other payment alternatives available to you. When trying to determine how much to put into the down payment, you should explore your various options in order to find a plan that will best suit your circumstances. Q: Are you interested in gaining equity as soon as possible and thereby decrease your monthly costs? A: Then putting down 20 percent may be best for you.