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What is PMI – Private Mortgage Insurance?

April 26, 2017PMI private mortgage insurance

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What is PMI – Private Mortgage Insurance?

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PMI is insurance which protects the lender in the event you do not pay. PMI allows borrowers to obtain higher loan amounts with lower down payments. PMI is typically required when the LTV is 80% or more. Check with each lender to insure what their PMI requirements may be.