What New Homebuyers Need to Know About PMI
Posted by Shawn Clayton on
There is a little thing called PMI which can add to the cost of owning a home and in some cases continue for the life of a home mortgage loan. Buyers who are touring areas should note this potential extra cost as this can affect the style and size of the home that can ultimately be purchased. Your dream waterfront home may take a little more effort to lock down. But not every borrower needs to pay PMI but in some cases it is necessary to make these extra payments in order to be approved for a home mortgage by a lender. What do you need to know about PMI? Do you have to pay PMI? Learn more about PMI and your options today.
Does Every Borrower Pay PMI?
Private Mortgage Insurance or PMI is often necessary for those people not making a down…
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