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Sylvia Said:

Question about PMI (Private Mortgage Insurance)?

We Answered:

Generally its required on all loans that are less than 20%, although some banks will allow you to go without with a smaller % down. That being said, for all new loans, PMI is now tax deductible. So it really is not nearly as painful to pay as it used to be. Going with an 80-20 loan is far less advantageous than it used to be as well.