The Cost of NOT Paying PMI

The Cost of NOT Paying PMI

Saving for a down payment is often the biggest hurdle for a first-time homebuyer as median incomes, rents, and home prices all vary depending on where you live. There is a common misconception among homebuyers that a 20% down payment is required, and it is this...
Don’t Pay PMI. Pay No PMI with Less than 20% Down

Don’t Pay PMI. Pay No PMI with Less than 20% Down

Today I am going to go over what PMI is and how you can avoid having that in your monthly payment.  Let’s get right to it. First off, PMI is Private Mortgage Insurance.  What this does is it protects banks in case there is a default in payment.  If you are not...
What is PMI and How Can I Stop Paying It?

What is PMI and How Can I Stop Paying It?

WHAT IS PMI?  PMI stands for Private Mortgage Insurance. PMI is insurance that a lender may require for your home loan if the lender feels you are a risk.  In other words, the insurance is for the lender (i.e., a bank) or a private lender (i.e., a broker). It is...
The Benefits of a 20% Down Payment

The Benefits of a 20% Down Payment

If you are in the market to buy a home this year, you may be confused about how much money you need to come up with for your down payment. Many people you talk to will tell you that you need to save 20% or you won’t be able to secure a mortgage. The truth is that...

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