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What is PMI?

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What is PMI?

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Private Mortgage Insurance (PMI) insures the lender in case the buyer defaults on the loan. The lender requires PMI when the buyer’s down payment is less than 20% of the purchase price of the home. A Cambria mortgage consultant can discuss this option with you.

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This stands for Private Mortgage Insurance. On a conventional loan PMI is required if you borrow over 80% of your appraised value or purchase price. This protects the lender against financial loss if the loan is defaulted. 23.

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This stands for Private Mortgage Insurance. On a conventional loan PMI is required if you borrow over 79.99% of your appraised value. This protects the lender against financial loss if the loan is defaulted.

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The Project Management Institute (PMI) is the leading professional association in the area of Project Management. PMI establishes project management standards, professional certification, provides seminars, educational programs, and opportunities to share knowledge and experiences with other project management professionals. Since its founding in 1969 as a nonprofit organization, PMI has grown to over 200,000 members in 150 countries worldwide. PMI has become, and continues to be, the leading professional association in project management.

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Private Mortgage Insurance – Insurance the buyer carries to guarantee that the lender is paid off if the buyer defaults on a mortgage. It’s required for all mortgages with less than a 20% down payment. The exact amount depends on the amount of the loan and the size of the down payment.

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