Part II: Understanding Mortgages
posted by AlliSchnur 1 days ago under mortgage information, knowing mortgages, denver real estate
PMI is known as “private mortgage insurance” and is mandatory for any loan with less than 20% of a down payment. This mortgage insurance protects your lender against any default on the loan. While your exact PMI will vary based on your loan amount and down payment, it’s typically about .5% to 1% of the loan, spread out over the term of your loan.
» Part II: Understanding Mortgages |
- Login
- Register
- Write a New Post
|
|