We research, you save.

what is PMI?

By houwenzhou1264125 from WA Sep 2nd 2014

Private Mortgage Insurance is money paid to insure the lender against loss due to foreclosure or loan default. Mortgage Insurance is required on conventional loans with less than a 20 percent down payment. FHA mortgage insurance requires a payment of 1.75 percent of the loan amount to be paid at closing, as well as an annual fee of the loan amount added to each monthly payment.Feel free to email me for other questions at jpotter@stearns.com or call to schedule an appointment to be pre-approved.

Sep 2nd 2014

Watch the video or scroll below the video for the written explanation. http://raleighhomeloans.org/tag/pmi/

Sep 2nd 2014

Oops wrong link! This is the correct one: http://raleighhomeloans.org/2013/03/16/pmi-a-simple-explanation/

Sep 2nd 2014

Didn't find the answer you wanted? Ask one of your own.

Get an answer

Compare Lowest Mortgage Rates