What is Private Mortgage Insurance (PMI) and why would I need it?
In most cases, if your first mortgage amount is greater than 80% of the property’s value, the lender will obtain Private Mortgage Insurance (PMI) to safeguard its investment against the possibility of default. PMI premium is collected monthly along with the mortgage payment. Within three days after your loan application is submitted you’ll be sent an estimate projecting the amount of the monthly PMI premium. As your equity increases, you may qualify to have PMI removed. There may be ways to finance your home so that PMI is not required. Your loan consultant can provide you with more information.
In most cases, if your first mortgage amount is greater than 80% of the property s value, the lender will obtain Private Mortgage Insurance (PMI) to safeguard its investment against the possibility of default. PMI premium is collected monthly along with the mortgage payment. Within three days after your loan application is submitted you ll be sent an estimate projecting the amount of the monthly PMI premium. As your equity increases, you may qualify to have PMI removed. There may be ways to finance your home so that PMI is not required. Your loan consultant can provide you with more information.
In most cases, if your first mortgage amount is greater than 80% of the propertys value, the lender will obtain Private Mortgage Insurance (PMI) to safeguard its investment against the possibility of default. PMI premium is collected monthly along with the mortgage payment. Within three days after your loan application is submitted youll be sent an estimate projecting the amount of the monthly PMI premium. As your equity increases, you may qualify to have PMI removed. There may be ways to finance your home so that PMI is not required. Your loan consultant can provide you with more information.
In most cases, if your first mortgage amount is greater than 80% of the property s value, the lender may obtain Private Mortgage Insurance (PMI) to safeguard its investment against the possibility of default. PMI is collected monthly along with the mortgage. Within three days after your loan application is submitted you ll be sent an estimate projecting the amount of the monthly PMI payment. As your equity increases, you may qualify to have PMI removed. There may be ways to finance your home so that PMI is not required. Your loan consultant can provide you with more information.
In most cases, if your first mortgage amount is greater than 80% of the propertys value, the lender will obtain Private Mortgage Insurance (PMI) to safeguard its investment against the possibility of default. PMI premium is collected monthly along with the mortgage payment. As your equity increases, you may qualify to have PMI removed. There may be ways to finance your home so that PMI is not required. Your loan consultant can provide you with more information.
