Archive For February 25, 2016

Understanding Private Mortgage Insurance (PMI)

Understanding Private Mortgage Insurance (PMI)

If you’re obtaining a loan and putting less than 20% down, you’ll likely be paying private mortgage insurance (PMI).  This pesky fee can range considerably in price, but it typically ranges between 0.3 and 1.5 percent of the original loan amount per year, according to Bankrate.com. While this insurance is paid by the consumer (that…

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