Tag Archive: PMI

Getting Rid of Private Mortgage Insurance

October 24, 2014 by Leave a comment

You can raise your credit score, save enough cash for closing costs, and maintain accurate financial records. However, if you don’t have at least a 20 percent down payment when buying a house, you’ll have to pay private mortgage insurance. Private mortgage insurance is required on all mortgage loans with a loan-to-value ratio greater than... View Article

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What is PMI? Do I I have to pay it?

August 5, 2014 by Leave a comment

Many homebuyers are confused by private mortgage insurance, better known as PMI. That’s understandable; PMI is a pretty arcane addition to your mortgage loan. But here’s what you need to know: PMI doesn’t protect you. It protects your mortgage lender. And if your down payment isn’t large enough, the odds are high that you’ll have to pay for... View Article

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