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Tag Archives: private mortgage insurance

  • PMI (Private Mortgage Insurance)

    What is PMI (Private Mortgage Insurance)?

    If you recently looked at homes or have inquired about the homebuying process, you've likely heard the term Private Mortgage Insurance, or PMI. But, what is PMI on a mortgage and how does PMI work? For starters, PMI is a type of insurance that protects the lender if a borrower cannot provide a 20% down [...] More  →
  • how to get rid of pmi

    How to Get Rid of PMI on FHA, USDA, & Conventional Loans

    If "mortgage" comes up as a topic, eventually the term PMI is mentioned. PMI stands for private mortgage insurance and most want to avoid it at all costs if possible. However, once the benefits of mortgage insurance are explained correctly, the potential borrower warms up to the idea of it allowing low to no down payment. [...] More  →
  • Has FHA PMI Had Any Changes Lately and Will It Go Down Anytime Soon?

    One of the biggest buyer needs is a low down payment and this is especially true with first time home buyers. Fortunately since 1934, FHA has been helping buyers achieve the dream of home ownership. A cornerstone feature of FHA loans is the low down payment. But, banks and mortgage companies typically do not offer [...] More  →