What is Private Mortgage Insurance (PMI)?
Michael Tessaro
REALTOR? at INTERO Real Estate Services | San Francisco Bay Area | South Bay | East Bay | Pennisula | Your Friend and REALTOR? | CA-DRE#00868159
What is Private Mortgage Insurance (PMI)?“An insurance policy that protects the lender if you are unable to pay your mortgage. It's a monthly fee, rolled into your mortgage payment, that is required for all conforming, conventional loans that have down payments less than 20%.
Once you've built equity of 20% in your home, you can cancel your PMI and remove that expense from your mortgage payment.” Click here for the entire story
Interim CFO
3 年Great post?Michael, thanks for sharing!