How much will the pmi be if the price of the property is only 80,000, with 12,000 down payment,?
PMI averages just under $50/mo for every $100K…..the costs come in when you try to remove it “3-5” years from now…. you have to pay a bunch of closing costs….which on 80K will be in the neighborhood of $1,500 to $2K…… I would put 20% down now……and work two jobs until you built your emergency fund back up….
