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A Roth IRA Could Help You Buy a Home. Here's What to Know

While its possible to buy a house with less than 20% down — the average is 12% overall and 6% for first-time buyers — going that route also might mean paying private mortgage insurance, or PMI, until your equity is at least 20% of the homes value. PMI can run $30 to $70 monthly for each $100,000 borrowed, according to Freddie Mac. For a $250,000 house, a 6% down payment would be $15,000. At 20%, it would be $50,000. Those amounts dont include other costs related to the purchase, such as tra...
New York United States Freddie Mac Jeffrey Levine Shon Anderson Daniel Galli

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