Updated almost 10 years ago on . Most recent reply
Paying off 20% of my mortgage to eliminate PMI
I did the math, and by the time I pay off 20% of my house with my current monthly payments, I will have paid roughly $6,000 (6 years) towards PMI. Should I put extra money towards my mortgage, with it taking roughly 1.5-2 years to pay off 20% of my house, which will remove PMI, and will reduce my monthly mortgage payment, or should I put back that money over the next two years and use that money to invest in real estate and stocks? I have roughly $1,000 a month to play with currently.