What Is PMI?

Maybe you’ve heard the term thrown around by your lender or loan officer, you’ve spotted a “PMI” line item on your closing disclosure, or you’re seeing “PMI” on your escrow statements. Whatever the reason, you want to know: what is this PMI and why am I being forced to pay it? For most people, PMI [...]

By | 2018-02-12T16:48:30+00:00 February 20th, 2018|Categories: Mortgage|Tags: , |

Tired of Paying PMI? Here’s How to Get Rid of it

If you have an FHA loan or put less than 20 percent down when you bought your home, you’re probably stuck with PMI, or Private Mortgage Insurance. PMI is paid monthly as part of your mortgage payment, but unlike your balance and interest, it doesn’t decline over time. You pay the same for mortgage insurance [...]

By | 2017-11-22T16:38:38+00:00 November 20th, 2017|Categories: Advice, Financial, Mortgage|Tags: |

Send this to a friend