Question for my fellow fish, thinking about buying a new home and putting 10% down instead of 20%. Only because I want to have some extra money laying around for new home items I’ll need. Then after 3-4 months of PMI my plan is to call and drop the other 10% in a big payment to remove PMI. Is this something I can do? I also think if I do 10% down instead of 20% I can get a lower rate as a first time home buyer.

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Yes, you can do that. Just ensure there is no pre-payment penalty in the loan as some loans do tend to have some penalty if you pay in the first 6 months etc. For the second point, I am not sure if interest rate will be lower with 10% than 20%- it should be vice versa but I can be wrong here.

You’ll definitely get lower rates if you put 20% down. I’d probably wait 3-4 months to purchase the home items you need, or at least the expensive ones.

Seems silly. If you’re so confident you have the extra money in a few months then buy the items you need slowly on a credit card and give yourself 30’day delay.

Prices should also be a bit better post summer so might make sense to just wait a bit

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