Buying a Home with Private Mortgage Insurance and Pay PMI Off Early
If you are new to home buying, you will soon find out that most lending institutions require that loan applicants put 20% down when applying for a mortgage, or you will need private mortgage insurance. Of course, there are exceptions to this rule, of course, as some financial institutions will accept applications even in this turbulent home buying market with 10% down. Go online first and contact a couple of brokers or several lenders through a service like LendingTree.com which will find you four mortgage loan offers. Buying a Home With Private Mortgage Insurance (PMI) If you do not have the 20% down payment, then you will be required in almost every instance to buy private mortgage insurance which is also … Read more