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Reply to "When million-dollar-plus homes are purchased, do people put more than 20% down?"
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[quote=Anonymous][quote=Anonymous]We bought a $900k house with about $150k down. We have a $750k mortgage at 3.5% fixed which is how we're making it work. We expect we'll live in this house for a few years and then, hopefully, generate enough equity (through paydown and market) to have a bigger down payment on the next house (thinking around $1.2M). Slow and steady is how we look at it.[/quote] Do you have to pay a PMI because you didn't put 20% down?[/quote]
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