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My uncle in Toledo talked me out of a 5% down loan and I'm still mad about it
He said lenders push the low down payment so you stay broke on PMI, but when I ran the numbers on a $240k house in Maumee the monthly gap was only $61. Everyone screams save 20% like it's gospel, but a lower down payment got me in 2 years sooner while rent was eating $1,450 a month. Did anyone else here go low down payment and actually come out fine, or am I just fooling myself?
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