I was putting 20% down on a house in Denver until my lender showed me the math on a 5% down payment.

4 comments

4 Comments

Wow, that lender's math feels so familiar. It's like how everything gets sold to us now, focusing only on the low monthly hit while hiding the real long-term cost, which totally reminds me of what @jade_johnson just said. You really have to dig into the full picture yourself.

the_paul2d ago

That math ignores the huge PMI cost.

joel_butler8h ago

Remember my first place... the lender made the low down payment sound like a total no-brainer. I was so focused on the smaller upfront number that I barely looked at the PMI. Ended up paying an extra two hundred bucks a month for like five years, money that just vanished. It felt like a stupid tax for not running the full math myself.

jade_johnson2d ago

My buddy in Phoenix got crushed by PMI for years.