[jtaillon]

Is that true for homeowner's insurance? As far as I know, the 20% rule is for private mortgage insurance (PMI), which pays to the lender if you fail to make your payments. Basically an added payment because with a low down-payment, you're seen as an extra risk of default that must be insured separately.

[notinallcases]

Sorry, I meant PMI, not homeowner's insurance. The GP said "mortgage insurance" and that's what I was referring to. I absolutely have and was required to obtain homeowner's insurance to get a loan.