Tag Archive for: Private Mortgage Insurance

Why We Love Private Mortgage Insurance (PMI) Now

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Bojack Horseman, FHA and PMI all cultivated horrible reputations in the 1990s. Bojack fostered his young co-star’s drug addiction, and should not be forgiven. FHA used to require full pest reports and clearances with every transaction. That requirement is now long gone, but it stigmatizes FHA to this day.Read More

MIP vs PMI: Understanding Your Mortgage Insurance Options

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Explore the differences between Mortgage Insurance Premium (MIP) and Private Mortgage Insurance (PMI) in this concise guide. Learn about cost structures, cancelability, and key benefits to make an informed mortgage decision.Read More

Sellers Can Pay For Lump Sum PMI; PMI Explained For Your Buyers

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On Friday, I blogged about using Lump Sum or Single Payment PMI to Make Transactions With Low Appraisals Work. And I got a ton of feedback, so I am following […]Read More

How to Maximize Your Purchasing Power with 1st and 2nd Combo Loans

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1st and 2nd combo loans, also known as piggyback loans, are a financing option that involves taking out two mortgages simultaneously to fund the purchase of a home. These loans consist of a first mortgage, which covers the majority of the home's purchase price or value, and a second mortgage that provides additional funds. 1st and 2nd Combo loans can typically only be used for owner-occupied properties that are used as a primary residence.Read More

3% Down With No PMI Requirements

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Private Mortgage Insurance, often abbreviated as PMI, is a type of insurance that lenders require from homebuyers who make a down payment that's less than 20% of the home's purchase price. But what is PMI on a mortgage?Read More

Avoid PMI with JVM’s “Zero MI” Programs

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Avoid PMI with JVM’s "Zero MI" Program - an appealing loan alternative that can help you avoid PMI when putting less than 20% down.Read More

Using PMI To WAIVE Appraisal Contingencies

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Many homebuyers do not realize that PMI can be an option for those who might want to make offers with no appraisal contingencies. This, of course, is a great idea, […]Read More

Private Mortgage Insurance (PMI) – When & Why It Is Pretty Awesome

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Private Mortgage Insurance (PMI) earned an unjustified bad rap back in the 1990s. Investopedia, in fact, lists “six reasons to avoid PMI,” including: (1) Cost; (2) No Longer Tax Deductible; […]Read More

How To Avoid PMI With Less Than 20% Down

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It is possible to purchase a home with less than 20% down and avoid private mortgage insurance (PMI). Homebuyers have many options when it comes to their loan’s down payment amount. Many borrowers are not aware of the amount of flexibility within the mortgage industry.Read More

PMI Can Help Homebuyers In California

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Weighing the pros and cons of PMI? Many homebuyers have questions about mortgage insurance so we've outlined the ins and outs for California homebuyers.Read More

A Guide To Private Mortgage Insurance In California And Texas

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California and Texas Homebuyers with small down payments are often subject to Private Mortgage Insurance (PMI). Many homebuyers have questions about PMI, why they have to pay it, and how they can avoid it when buying a home.Read More

10% Down With No PMI; Overrated?

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Most agents and buyers know that Private Mortgage Insurance (PMI) is usually necessary when a buyer puts less than 20% down. What most people don’t know is that almost every lender offers a “10% down loan with NO PMI,” even though loan officers often market these products as “unique offerings.”Read More

Eliminating PMI (Private Mortgage Insurance)

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Here are three options for eliminating the private mortgage insurance (PMI) obligation associated with a conventional loan (FHA MI is permanent). Option #1 – Refinancing: If your property appreciates to […]Read More

PMI or Private Mortgage Insurance Explained (Briefly)

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Private Mortgage Insurance or PMI protects lenders (not borrowers) in the event of default. Buyers with conventional financing are usually required to obtain PMI when they put down less than […]Read More