PMI, or private mortgage insurance, is unavoidable for some purchasers. This coverage can add hundreds of dollars to your monthly mortgage payment — and in the event of default, it benefits the lender rather than you. How to get rid of PMI is a common question.
However, there is a silver lining: there are numerous options ...
When you’re planning to purchase a home, there are plenty of fees and monthly payments that affect your budget. One common fee is Private Mortgage Insurance, or PMI, and it catches many buyers unaware.
How Private Mortgage Insurance is Determined
If you’re a buyer taking out a conventional mortgage loan, be aware of ...