Quote:
Originally posted by ModelPerfect
I just bought another house and opted for a 1% higher interest rate to avoid PMI. In both cases, the PMI or the higher interest rate goes away after 2 years if the LTV is below 80% including appreciation. Your payments are usually the same either way
|
Tell me the lenders name who told you the 1% rate increase will "go" away after 2 years even if you get it re-appraised and its at 50% ltv?