PMI – Private Mortgage Insurancedgruentzel2019-04-07T22:33:58-05:00
If you’re buying a home, lenders require PMI as part of a conventional loan to protect them in case you end up in foreclosure. The insurance protects the lender for at least some of the shortfall if the home is sold in foreclosure at less than the outstanding amount of the mortgage. PMI is generally required if you refinance your mortgage with less than 20 percent equity.
What is FAQ?dgruentzel2019-04-07T22:33:42-05:00
It’s facts answers questions.