What Is Private Mortgage Insurance? (pmi)

Hal M. Bundrick, CFP, NerdWallet.com
Mon, 06/19/2017 - 7:56am

Buying a home usually has a monster obstacle — coming up with a sufficient down payment. You can put less than the traditional 20% down payment but the lender will likely require you to buy mortgage insurance. The concept behind mortgage insurance is not quite the same as with other insurance plans.

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Topics:  mortgage insurance   payment   
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BING SEARCH:
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    Private Mortgage Insurance (PMI) can help you buy a home with a lower down payment. Before you choose this option, it’s important to understand what it is, how it will impact your monthly mortgage cost, and how and when you can remove the additional charge.
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