pmi
What Is PMI?
Maybe you’ve heard the term thrown around by your lender or loan officer, you’ve spotted a “PMI” line item on your closing disclosure, or you’re seeing “PMI” on your escrow statements. Whatever the reason, you want to know: what is…
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PMI: Should You Avoid It at All Costs?
If you’re applying for a conventional mortgage loan, you’ll usually need at least 20% down if you want to avoid private mortgage insurance (typically just referred to as PMI). PMI protects the lender if a borrower defaults, and it makes…
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How to Calculate Your Mortgage Payment
Buying a home is probably the single largest purchase you’ll ever make in your life, and unless you are independently wealthy, you’ll need to take out a mortgage to help finance the cost to purchase one. For many, the biggest…
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What Is Mortgage Insurance? (And How to Avoid it!)
Many people today feel “insurance poor.” But for as poor as we may feel, the reality is that having insurance products to protect your family and assets is a necessity. From car insurance to health insurance and everything in between…
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How to: Lower Monthly Insurance Premiums
Are you tired of paying an extra $50 a month in mortgage insurance? You’re not alone. The average homeowner pays about $500 every year for MIP — and over the course of their loan life? That means thousands and thousands…
Read MoreTired of Paying PMI? Here’s How to Get Rid of it
If you have an FHA loan or put less than 20 percent down when you bought your home, you’re probably stuck with PMI, or Private Mortgage Insurance. PMI is paid monthly as part of your mortgage payment, but unlike your…
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