Myth Buster of the week: When you have less than 20% down you HAVE to pay PMI. NOT true. When you have 10% down, you can borrow the difference (the other 10%) from the bank. We work with a couple of banks who will give you the difference needed for 20% down and have include it as another loan on the home. They call this a piggy back loan or an 80-10-10.