Let’s Be Real About Mortgage Insurance: The Truth You Need to Hear

No one likes paying mortgage insurance—let’s get that out of the way. 💸 It’s a monthly payment that doesn’t feel like it’s benefiting you directly, right? But here’s the thing: it’s often the lesser of two evils.

Imagine this: You’re saving up for that magical 20% down payment. You’ve got a plan, you’re sticking to it, and you’re waiting to pull the trigger. But as time goes on, you watch home prices inch up. And then, a little more. And then… suddenly, they’ve jumped by $100,000. Now you’re stuck on the sidelines while prices keep soaring.

That $193/month for mortgage insurance might feel like a punch to the gut right now, but it could save you from missing out on gaining equity as home prices keep climbing. 🤯 When you buy now, you’re investing in your future. That mortgage insurance payment? It’s temporary. The equity you’ll build over time? That’s permanent.

Think about it:

🏡 Start small. You don’t need to wait until you’ve got the full 20% down.
🎯 Get in the game. Don’t let the fear of mortgage insurance hold you back from homeownership.
⏳ Let time and appreciation work their magic. Home values in places like the High Country aren’t slowing down anytime soon, and they’re only going up.

Here’s a quick example of what we’re talking about:

You’re eyeing a home at $350,000. If you wait and save for a 20% down payment, you’ll need to come up with $70,000.
Let’s say in the meantime, home prices rise by 5% over the next year. That’s an extra $17,500 added to the price tag.
If you wait, your new down payment needs to be $74,000 (a $4,000 increase!)—and that’s assuming you can still afford it.
Meanwhile, if you jumped in now with a 5% down payment and paid mortgage insurance for a while, you’d already be building equity—and you’d be living in your new home, instead of waiting on the sidelines.

So, what’s it really about? It’s about getting into the market before home prices push you further out. It’s about letting your home appreciate and building wealth while mortgage insurance costs only a fraction of what waiting might cost you in the long run.

If you’re ready to jump into homeownership and stop waiting for the “perfect time,” drop a 🏡 in the comments, and I’ll show you how it plays out in your local market. You can make it happen—let’s run some numbers! 👇