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What is the minimum down payment required by a lender in order to eliminate private mortgage insurance (PMI)?

April 26, 2017down payment Eliminate Lender minimum PMI private mortgage insurance

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What is the minimum down payment required by a lender in order to eliminate private mortgage insurance (PMI)?

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Typically, on a primary residence, the minimum down payment amount needed to eliminate PMI is 20%. If your down payment is less than this amount, but you wish to avoid PMI, your lender may have alternative products and pricing options they may offer instead of PMI.