What is Private Mortgage Insurance (PMI)?
Realty Biz
DECEMBER 30, 2021
Private mortgage insurance (PMI) might sound like something that will protect you if you can’t make a mortgage payment. There is some limited truth to that but mostly PMI is something that you pay as a homebuyer, but is for the benefit of your lender. PMI is almost always required when you take out a conventional loan with a down payment that is less than 20% of the purchase price.
Let's personalize your content