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"That is, is there a point in paying down the loan where that $20/month outweighs the higher interest rate on the HELOC?" Yes - the reason for this is that your fixed PMI increases as a % of your outstanding loan balance, as your loan balance decreases. If PMI is a fixed $20 / month ($240 / year), then it starts out as 1.2% of $20k, but when your ...


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