PMI: the Extra Couple Hundred You Pay in Your Mortgage for… What?

PMI: the Extra Couple Hundred You Pay in Your Mortgage for… What?

by Lori Atwood | Mar 10, 2015 | Financial Fitness, House Buying

What is PMI and why am I paying it? I get this question a lot. PMI (Private Mortgage Insurance) is insurance the bank MAKES you have if you put less than 20% down on your home purchase. Before the 2007, it was common for people to put 0%, 2%, 5% or 10% down on a home...
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