Posts Tagged ‘PMI’
How To Get Rid of PMI (Mortgage Insurance)
How To Get Rid of PMI When buying a home with less than 20% down, home owners run into PMI, or private mortgage insurance. While mortgage insurance can be paid in various ways, from a split premium to “lender paid” (lender paid PMI results in a higher interest rate), the most common form of…
Read MoreWhy Would You Put 20% Down? Avoid PMI with Less!
Why Would You Put 20% Down? Avoid PMI with Less! In today’s world, PMI is considered a bad word in mortgage financing and home buying, and for good reason. After all, PMI doesn’t protect a borrower, it protects a lender, and in markets like we’ve recently seen, most of which are appreciating at a…
Read MoreHow to cancel PMI (mortgage insurance)
How to cancel PMI (mortgage insurance) One questions I often get from clients buying a home or refinancing with less than 20% down or 20% equity is “how do I cancel PMI on my mortgage?”. PMI is a benefit to both the lender and, though harder to recognize, the borrower. Without mortgage insurance companies,…
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