Mortgage FAQs

What is Private Mortgage Insurance (PMI)?

Private Mortgage Insurance is provided by a private mortgage insurance company to protect lenders against loss if a borrower defaults.

Private Mortgage Insurance is generally required for a loan with an initial loan to value (LTV) percentage in excess of 80%.

In most cases, this will mean that you will have to pay Private Mortgage Insurance if your down payment is less than 20% of the value of the home you are purchasing or refinancing.

 


Additional Mortgage FAQs

Let's Connect

Experience MORTGAGE300'S "Lending Revolution" and skip the delays and inefficiency typically found in the MORTGAGE PROCESS