Is it worth while to roll PMI into the rate? Seems to cost about 1/2% to get rid of a $145/mo PMI payment.

Asked by Mark, Orangevale, CA Tue Mar 4, 2008

In real life - how easy is it to get rid of PMI? Or in this declining market should one do every kind of handstand or cartwheel to avoid PMI since rapid appreciation/instant equity is no likely?

I'm in Northern California.

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Darren Miller, , CA (Licenced in 50 States)
Sat Mar 8, 2008
Hi Mark, I'm in Rocklin myself.

Are you currently looking to purchase or already have a loan? PMI works good for anyone under 110K AGI (adjusted gross income) due to the tax deduction allowed. However looking at in the interest rate is also tax deductible.

If you are looking to purchase can you go FHA/conforming under the 417K limit (now 580K for the Sac metro area).
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