how does mortgage insurance work? I am putting 5% down how long will i have to pay this and how do you get rid of it?
duh, you were helpful, i said how does it work?

You pay PMI until you have 20% equity in your home. You can avoid PMI by doing an 80/20 mortgage. 80% of the cost of the home is in a traditional mortgage and the other 20% is in a personal loan. Be very careful about the types of loans you get, the interest rates, payoff schedules, etc.