Question

 Why do I need private mortgage insurance?

Answer 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 »
http://www.answerbag.com/q_view/1952039

Top Q&A For: Why do I need private mortgage insurance

How much is private mortgage insurance?

The private mortgage insurance rate charged per month is based on several factors, including your credit score, the amount of your loan and the location of the property. However, it is typically .5... Read More »
http://www.answerbag.com/q_view/1867424

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 »
http://www.wikihow.com/Understand-Private-Mortgage-Insurance

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 »
http://www.answerbag.com/q_view/1972250

How is private mortgage insurance determined?

Private mortgage insurance (PMI) is a type of insurance policy that protects lenders in the event that a borrower defaults on a mortgage. PMI only reimburses the lender and offers no protection for... Read More »
http://www.answerbag.com/q_view/1962728


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