{ "media_type": "text", "post_content": "Have 60k saved now will save 15 k more by October for a total of 75k. Planning to buy a condo for 330k with 5% down in Oct. Chicago market and will end up paying PMI. Is this okay or should I reconsider my decision? First time home buyer please help.", "post_id": "5f14d81a652a95002065e3b2", "reply_count": 1, "vote_count": 1, "bowl_id": "5a5242b78e26290018502ca0", "bowl_name": "The Real Estate Bowl", "feed_type": "bowl" }

Have 60k saved now will save 15 k more by October for a total of 75k. Planning to buy a condo for 330k with 5% down in Oct. Chicago market and will end up paying PMI. Is this okay or should I reconsider my decision? First time home buyer please help.

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Love pmi. All the money the gov is giving out is eventually gonna have a negative impact on inflation. Inflation raises the value of a house which increases your equity in the property....you’ll hit the 20% threshold quicker now that ever before! Keep the different and invest it for a higher return.

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