What is PMI Insurance and How Does it Affect a Mortgage Payment
Many buyers, especially first time buyers, do not have 20% down payment. Luckily there are a lot of mortgage loans offered with less than 20% down required. Besides VA, USDA, and FHA, there are conventional loans. For these Fannie Mae and Freddie Mac loans, private mortgage insurance (PMI) is required with less than 20% down. Most […]
