Buying a 189k house making 10k, I should get a loan at 20% dwn or pay the ins mortgage? monthly payments?
We are for a 189 with 10k at home and authorized a fixed interest rate of 6.7 points for 30 years without. I’ve heard of people who listen get a loan to finance 20% to 100% was. My plans are to have the home page for a year, and they sell to small upgrades and hopes to turn a profit of $ 10K. I’m not sure what the cost of mortgage insurance and whether to offset the interest on the loan is 20% or what. Recommendations?