It used to be that when someone applied for a conventional loan, the down payment required could be as much as 20 or even 30 percent or more. That kept many buyers away from homeownership simply because they couldn’t save up enough for a down payment. Private mortgage insurance began as a way to make […]
If you’re doing some research on mortgage loans and searching for information such as down payments, closing costs and interest rates, at some point you’ll run across mortgage insurance (also called PMI). It might sound like an insurance policy that makes the mortgage payments should someone be temporarily unemployed or otherwise unable to make the […]
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