Portal Forum General General Discussion Home Ownership Reply To: Home Ownership

#153748 Quote
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@mjarz02 wrote:

IMO, the banks used the housing crisis to justify mortgage insurance.

That statement couldn’t be more wrong. I bought my first house in 1995 – well before the housing bubble/collapse. If I hadn’t borrowed on a VA loan, I would have been required to purchase PMI. My brother and his wife bought their first house in ’94, and they were required to purchase PMI, because they couldn’t afford to pay 20% down.