To avoid PMI

[Amir Saeed]

Hello

I have read various articles on avoiding PMI by paying 20% down or getting a second mortgage bascially somehow bringing the LTV below 80%.

I have a few questions. I am looking to invest in a Condo $125K. This is strictly for investment purposes basically renting it out. I already own a house (Paying mortgage). Taking this as an example if I put down around 25K I should be able to avoid the PMI. Thinking strictly from investment purposes is it possible to put down less maybe like 10% and do like 80/10/10. I know if someone wants to live in the property or its a first time buy its doable, but in the case of investment is it doable also.

Second on average what is a closing cost on a property for $125K (I know it depends on the area or loan company) but is there a rough relation "%" between the loan value and the closing cost. Any tips would be nice...Thanks