Do I have to have Mortgage Insurance?

Ang23 · #1 (**permalink**) 08-21-2007, 07:34 PM

I was just wondering how much down if any do you have to have in order to avoid Mortgage Insurance. Please let me know thanks

george 2 · #2 (**permalink**) 08-21-2007, 07:34 PM

20 percent

ttpawpaw · #3 (**permalink**) 08-21-2007, 07:35 PM

There are several different types of mortage insurance. If you are referring to PMI you need 20% down to escape that. If you are talking insurance that will pay off your mortage if you or any other signer would die, that type is optional. It is only a good deal if someone dies, how much is peace of mind worth?pp