How You Can Avoid Paying PMI
Putting 20% down is the surefire way to avoid PMI, but here are three other ways.
What is PMI, and who has to pay it?
Private mortgage insurance, sometimes called lenders mortgage insurance, is usually required whenever a home is purchased with less than 20% down. Lenders are most confident in a person's ability to pay back a home loan when that person has skin in the game to the tune of 20% of the home's sale price or appraised...
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