$850k price | 90% LTV | Loan amount: $765k | 6.125% 30 year-fixed | $90 PMI
We have no other debt and have an income of roughly $300k /yr. We would have put more money towards the down payment, but we had a large wedding and our savings were depleted as a result.
My question is, should I focus on making additional payments, for the next 2-3 years, to get meet the 20% threshold to remove PMI and then invest more into the market, or should I ignore the PMI as its around $90/mo, just make my monthly payment, and invest our income after expenses (~ $5k/mo) straight into the market. The investable income excludes our annual bonuses as they are discretionary and can fluctuate on several factors. Maybe a mix of paying some early paydowns + investing also makes sense, but just looking for some advice.
Thanks!