Breaking Down Private Mortgage Insurance (PMI)

Buying a home is one of life’s biggest milestones. But if you’re putting down less than 20% on your mortgage, there’s a good chance you’ve come across something called Private Mortgage Insurance (PMI). For many homebuyers, PMI can feel confusing or even frustrating. Why pay for extra insurance if you’re already making your monthly mortgage payments? The truth is, PMI plays an important role in helping more people achieve homeownership — and understanding how it works can help you save money and