How to Avoid PMI When Buying a Home

Private mortgage insurance, or PMI, is insurance coverage that protects the lender in case a borrower defaults on a home loan. Typically a lender will require you to pay for PMI if your down payment is less than 20% on a conventional mortgage. You can get rid of PMI after you build up enough equity…

The article How to Avoid PMI When Buying a Home originally appeared on NerdWallet.

Comments are closed.