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Understanding PMI (Private Mortgage Insurance)

PMI Basics When getting a conventional loan, if your downpayment is less than 20% most lender will require you to pay for Private Mortgage Insurance (PMI). This is in order to protect the lender from losses in case you can no longer make payments and default on the loan. PMI is then used to reimburse […]

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Posted in: For Buyers, General, real estate, Uncategorized Tagged: PMI, Private Mortgage Insurance

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