@adriaan Does the house need work and will you be putting money into it?
We didn't put much down because we wanted/needed the cash for our very much fixer house, but then we had our house reassessed after our updates to get rid of the PMI because it was now valued much higher, and we could get rid of the PMI.
One of my husband's co-workers did the same BUT he didn't do any work he just had a real estate mom and she knew his house was very undervalued and was able to get the value up to rid PMI in his case. Just something to think about if you think you're value will go up soon.
@psychoclaw The home is a new construction by Pulte. I am just planning to buy minor furniture after a couple months of living there.
I still have to check on the mortgage rules of the service that its going to own my loan to get rid of the PMI, but that the plan is to find a way to get rid of it.
@adriaan This is what you are asking phrased a different way.
Should I take out a loan with about 5% interest and invest that with hope of a higher return ?
... maybe you should, I don't know.
But when you phrase it like this, the risk you are taking becomes obvious. So do the risk analysis of your planned investment and not the monthly house payment analysis.
