Think PMI is a scam? You’ve been lied to—and in this episode, David sets the record straight with no filter. Part three of the Real Answers series takes a detour from step-by-step guidance and instead serves up a fiery PSA. David tackles the myth that first-time buyers must wait to save 20% down to avoid PMI—calling out the financial “experts” giving bad advice and explaining why this outdated thinking is hurting renters. There’s no soft delivery here: it’s a full-on rant from someone who’s tired of seeing people misled. Tune in if you’re ready for a raw, opinionated breakdown of one of the most persistent homebuying myths.

Quote:

“PMI is not evil. It’s not a punishment. It’s just a tool—and if you understand it, you can actually use it to your advantage.”

Highlights:

• Why the “20% down” rule is outdated and damaging
• How PMI actually works—and why it’s misunderstood
• David’s real-time reaction to advice that keeps renters stuck
• What most financial planners fail to grasp about today’s housing market
• A no-holds-barred message to first-time buyers feeling left behind

Referenced Episodes:

• Ep 33: Listener story—PMI turned “no chance” into homeowner
• Ep 56, 61, 64, 90, 199, 304, 349: Credit score tips that actually move the needle
• Ep 182: From zero credit score to first-time homeowner (interview)
• Ep 198 & 216: More PMI truths—and how to make it work for you
• Ep 181: Why waiting for 20% down is often the wrong move
• Ep 301–310: The 10 essential steps to buying your first home
• Ep 348: The real math and mindset behind closing costs

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David Sidoni, the "How to Buy a Home Guy," is a seasoned real estate professional and consumer advocate with two decades of experience helping first-time homebuyers navigate the real estate market. His podcast, "How to Buy a Home," is a trusted resource for anyone looking to buy their first home. It offers expert advice, actionable tips, and inspiring stories from real first-time homebuyers. With a focus on making the home-buying process accessible and understandable, David breaks down complex topics into easy-to-follow steps, covering everything from budgeting and financing to finding the right home and making an offer.

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