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Originally Posted by parafly
That's great advice. So the general consensus is to avoid PMI by taking a piggy back loan? How much of a higher interest rate should I expect from the piggy bank loan? We should be able to get the best rates out there because both my girlfriend and I have excellent credit scores, no CC debt, and relatively high incomes.
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In my experience the secondary loan runs about 2 percentage points higher. I'm sure this is obvious but put any extra principal payments towards the secondary loan before the primary loan.