Anonymous
Anonymous asked in Business & FinancePersonal Finance · 2 months ago

Can I get a personal loan and pay off the 20% mortgage to remove MI?

I just purchased this cheap property. I really hate paying for nonsense mortgage insurance, even if it's going to be cheaper than personal loan? 

8 Answers

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  • 1 week ago

    Online loan applications from https://credits-on-line.ru

  • 2 months ago

    Personal loan - doubt it; but maybe you can accomplishn your goal by doing a refi.

  • 2 months ago

    How the H*** can we know whether you qualify for a personal loan?

  • 2 months ago

    That's stupid, why would you ask for a loan, you would be paying back 100% of what was loan to you be the time you finish paying it back. Simple math if they loan you $100 by the time you finished paying that $100, you would be paying them a total of $200. Loans are what make people fall into a deep hole.

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  • Anonymous
    2 months ago

    Depends on your credit & total obligations. May or may not make sense.  You would not have MI if you put down 20-25%.  Or do like I did and paid all cash.

    No MI, no homeowners. (no protection in the event of a tornado. A risk I accept)

  • Anonymous
    2 months ago

    How the **** do we know if you qualify for a personal loan. 

  • 2 months ago

    If you can get a personal loan, then you "can".

    But the interest on personal loans is usually pretty high, so it's unlikely that it would be to your benefit. 

  • 2 months ago

    There is a reason you hate paying for nonsense mortgage insurance, being cheaper might indicate you get less service and more hassles then its worth.

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