I put down 15% and had a $98 PMI. My house was a trashed foreclosure bought low at 350k. 8 months after purchase I called sheldon and refinanced for a lower rate and got rid of my PMI as my appraisal came in at 515k. If you have the value just refi and be done.
For the “myth” that having a lower tax by paying interest on your home loan, why dont people call a broker and demand a higher interest rate on a home loan then so you can deduct more each year? Its a scam as I would rather give the IRS some money then a bank a ton of money. Its the same scam as being a dumbass in the bubble for having all that equity sitting in your house instead of yanking it out and installing granite or buying 10 more houses.
