What Is PMI and Can I Avoid It?
PMI is the drawback of buying a home for a low down payment, but equity earns your way out.
Private mortgage insurance, sometimes called lenders mortgage insurance, is usually required whenever a home is purchased with less than 20% down. Lenders are most confident in a person's ability to pay back a home loan when that person has skin in the game to the tune of 20% of the home's sale price or appraised value. To enter into business with ...
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