I have recently been learning about the different types of loans available. I wasn't aware of what Mortgage Insurance actually is. If you don't have 20% to put down on a conventional loan, you have to pay mortgage insurance. This isn't to protect yourself. It is to protect the LENDER. So, it is wise to have a large downpayment.

What I am learning, though, is that you can get away without paying this insurance if you take out a second loan. This can help a person save on their monthly payments. Or the person can put that money back into the loan and save on interest.

This is all so new to me, but everything is making more sense everyday. Let me know if you have any questions. I am getting much better and understand a lot more.