Forum : June Fitness Questionnaire : Home Buying /financialfitness/forum/ Private mortgage insurance is only required when you put less than 20% down. /financialfitness/forum/messages.cfm?messageid=78E22118-9729-413D-78B090EF5E522FD9&r=1 2008-06-11T18:27:43-05:00 Mortgage insurance Now that credit and mortgage money are tighter than they have been in the past, if I put less than 25% down on a house will I have to buy mortgage insurance? If so how much should I allow for the monthly payment? /financialfitness/forum/messages.cfm?messageid=78743A28-F4CD-3534-C89D964FFEAC2131&r=2 2008-06-11T16:27:40-05:00 Mortgage insurance No matter what, it's a good idea to keep socking away money towards retirement. A more immediate question though is what you plan to do with the property. Are you looking to sell it? Or hang onto it until the real estate market recovers? /financialfitness/forum/messages.cfm?messageid=6EA86551-AC52-75D8-61EA61AED298678C&r=3 2008-06-09T18:48:27-05:00 land loan Like a lot of folks I purchased a residential property in the hopes of flipping. You know the rest of the story. I pay 1000.00 per month on an interest only loan that will mature in 4 years and I will still owe the same amount. I contribute the max to a ROTH IRA and 5% to a 401K. Should I stop the contributions and focus all of my energy on paying down the pricipal on the land loan? /financialfitness/forum/messages.cfm?messageid=543E3E46-D39D-75A4-4795B79D971B06FE&r=4 2008-06-04T15:42:22-05:00 land loan