Who holds private mortgage insurance premiums?

Answer Private mortgage service providers hold the premiums. These providers can be the same as the company that provided the mortgage or a different company. PMI can be canceled after two years of on-tim... Read More »

Top Q&A For: Who holds private mortgage insurance premiums

Are mortgage insurance premiums deductible?

You can deduct mortgage insurance premiums as an itemized deduction on your federal income taxes if your home mortgage was taken out after 2006. If you took out your mortgage in 2006 or earlier, yo... Read More »

Why do I need private mortgage insurance?

Private mortgage insurance, or PMI, allows you to purchase a home with a smaller down payment because lenders are protected against you defaulting. Without PMI, most lenders require a 20 percent do... Read More »

How to Understand Private Mortgage Insurance?

Home buyers are required to pay private mortgage insurance (PMI) to their lender when the down payment amount is less than 80 percent of the home's value. The idea behind PMI is home buyers who hav... Read More »

Why is private mortgage insurance important?

Private mortgage insurance, PMI for short, is a cost lenders add to a mortgage when the borrower cannot put down at least 20 percent of the home's value. PMI makes it easier for people to transitio... Read More »