Of all the questions that we get asked on a regular basis , What is Premium Mortgage Insurance is probably the one of the most common. When we're working on an FHA mortgage we're always explaining to people how PMI works and letting them know why they have to pay an extra fee or two when picking up that really great 3.5% downpayment that accompanies FHA Home Loans. One of the videos in our Home Loan Tips series explains this often misunderstood and unexplained portion of FHA mortgages, watch the video below with out mortgage expert Darren Copeland, where Darren answers the question: What is Premium Mortgage Insurance.
Now that you've got a answer to your question What is Premium Mortgage Insurance and understand how it can affect your mortgage planning. If you're interested in working with our expert mortgage team at KC Loan Tips then you can apply for pre-approval here. Our team in Lee's Summit Missouri would love to work with you and help you understand PMI and the entire mortgage process as well as help you get the best home loan you can get!