![]() What is ‘ Private‘ About Private Mortgage Insurance? Mortgage insurance protects a lender from loss when a home owner cannot repay the loan and eventually leads to foreclosure or short sale. PMI Mortgage Insurance (PMI) is an affordable financial tool that enables home buyers to purchase a home with a low down payment (less than 20%) or refinance when having a loan-to-value (LTV) greater than 80%. To view a side by side comparison of how much money PMI can save you versus FHA financing, please contact me for a no cost – no obligation analysis.įAQ’s & Answers About Private Mortgage Insurance (PMI) What is Private Mortgage Insurance (PMI)? ![]() That may be why so many loan officers push home buyers into higher cost FHA financing.Ĭonsider this an official consumer FAQ & Answer guide to understanding the basics and learning more about private mortgage insurance so you can determine if it’s the right option for you. Unfortunately, many loan officers themselves do not fully understand the different types of PMI programs available or know how to properly structure a loan with PMI. => Get a Loan Pre-Approval and Estimate with PMI Now Home buyers, home owners, and other real estate professionals deserve more accurate and more informative information about the role Private Mortgage Insurance (PMI) can play in expanding home ownership by securing a low down payment affordable home loan. This may be due to the misconceptions and/or general lack of understanding about what PMI is, how it works, and lack of awareness about the benefits of using PMI to finance a home. ![]() Private Mortgage Insurance (PMI) is often stigmatized and perceived as a bad thing when comes to buying or refinancing a home. By Brad Yzermans on Apin Mortgage Insurance
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