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About PMI. Also known as private mortgage insurance, PMI is an insurance policy you pay for that insures your lender against losses if you default on your loan. PMI is usually required if your down payment is less than 20%.
If you bought a house with a down payment of less than 20 percent, your lender required you to buy mortgage insurance. Private mortgage insurance is expensive, and you can remove it after you have.
If you need a mortgage to buy a house but lack the funds to make a 20% down payment, you might end up paying an added fee called private mortgage insurance, or PMI.. So what exactly is PMI? In the.
Private mortgage insurance is expensive, and you can remove it after you have met some conditions. If you bought a house with a down payment of less than 20 percent, your lender required you to.
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How to dump private mortgage insurance asap If you bought a house with a down payment of less than 20%, your lender required you to buy mortgage insurance. Private mortgage insurance is expensive, and you can remove it after you have met some conditions.