Business, 18.03.2021 02:20 chelsea73

You have a job, but recently heard that your position may be cut. You can only make a down payment of 10% on your mortgage. Since you're not putting 20% down, you have
to pay Private Mortgage Insurance (PMI) that protects the bank in case you can't make
payments. The bank offers you a 6% interest rate on a 30-year mortgage of $450,000.
Do you buy it or pass?
Why?

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