i bonds: Avoid PMI Like a Rockstar!
- 06/21/22 04:46 PM
Private Mortgage Insurance (PMI)Private Mortgage Insurance is required of borrowers who do not have a 20% down payment on the new home they plan on purchasing. The insurance is designed to protect lenders from the risk of default and foreclosure. There are other measures to avoid PMI such as piggyback mortgages and lender-paid mortgage insurance but I'll leave that to the other experts on this forum (ahem, staying in my lane). When saving for that 20% down payment on your new home…consider I Bonds!The rockstar unicorn that we are talking about today is Series I savings bonds, also known as inflation-adjusted … (2 comments)
Private Mortgage Insurance (PMI)Private Mortgage Insurance is required of borrowers who do not have a 20% down payment on the new home they plan on purchasing. The insurance is designed to protect lenders from the risk of default and foreclosure. There are other measures to avoid PMI such as piggyback mortgages and lender-paid mortgage insurance but I'll leave that to the other experts on this forum (ahem, staying in my lane). When saving for that 20% down payment on your new home…consider I Bonds!The rockstar unicorn that we are talking about today is Series I savings bonds, also known as inflation-adjusted … (2 comments)
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