pmi: PMI
- 02/01/08 03:44 AM
What is PMI? PMI is extra insurance that lenders require from most homebuyers who obtain loans that are more than 80 percent of their new home's value. In other words with less than 20 percent down payment are normally required to pay PMI. Benefits of PMI PMI plays an important role in the mortgage industry by protecting a lender against loss if the borrower defaults on a loan and by enabling borrowers with less cash to have greater access to home ownership. With this type of insurance it is possible to buy a home with as little as 3 … (0 comments)
;)
;)
