Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

If I have a good credit rating and meet the required monthly mortgage payments, am I obligated to have private mortgage insurance?

April 26, 2017Credit rating good meet mortgage obligated PAYMENTS private mortgage insurance

0

Posted

If I have a good credit rating and meet the required monthly mortgage payments, am I obligated to have private mortgage insurance?

2 Answers

0

Posted

Even when you have an excellent credit record and the capability to meet mortgage payments, lenders require private mortgage insurance as a matter of policy for any loan with a down payment of less than 20%.

0

Posted

Even when you have an excellent credit record and the capability to meet mortgage payments, some lenders require private mortgage insurance as a matter of policy for any loan with a down payment of less than 20%.