Private Mortgage Insurance: 3 Things to Know
When you shop for a mortgage loan, your lender might offer you several options. Some of the loans you qualify for might require paying private mortgage insurance (PMI). This insurance is something that specific loan programs require if you do not have a large enough down payment. If you do not understand what this is, here are three things you should know.
The Purpose of PMI
The first thing to know is what PMI is and the purpose it serves.
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