pmi: Is Avoiding PMI When Buying a House Possible? - 03/15/23 02:13 PM
If you buy a home for the first time, you might be surprised by some of the costs you must pay. Private mortgage insurance (PMI) is an ongoing monthly expense when you have a mortgage and put down less than a 20 percent down payment.
What is PMI?The borrower pays private mortgage insurance, but it mostly benefits the lender. It protects the lender from losing out if the borrower defaults and enters foreclosure.
If you have 20% equity in the home, the lender won’t require this insurance to cover their risk. Buying a home means you need a 20% down payment, which could … (3 comments)

pmi: What to Know About Private Mortgage Insurance (PMI) - 03/04/23 04:04 AM
If you apply for a home loan and you only have a low down payment, you might have to pay private mortgage insurance. PMI is usually required on conventional home loans when you don’t have lots of money saved for the down payment.
It is essential to understand what private mortgage insurance (PMI) is and how it works.
We will look at PMI and what you can do to reduce the amount you pay.
What is PMI?PMI or private mortgage insurance is normally required for conventional loans when your down payment is less than 20%. The good news is you don't need 20 percent … (3 comments)

 
Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty)

Bill Gassett

Metrowest Massachusetts Real Estate

Hopkinton, MA

More about me…

RE/MAX Executive Realty

Address: 22 South St #203, Hopkinton, MA, 01748

Office: (508) 625-0191

Fax: (508) 435-5550

Metrowest MA Real Estate - Realtor specializing in home sales in Hopkinton, Milford, Holliston, Ashland, Southboro, Westboro, Upton, Mendon, Hopedale, Grafton, Medway, Northbridge, Franklin, Framingham, Shrewsbury, Northboro, Bellingham, Sutton, and Uxbridge MA. Includes Real Estate home selling & buying tips, Homes for sale in and around Metrowest.



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