Private Mortgage Insurance (PMI)
In the event that you do not have a 20 percent down payment, lenders
will allow a smaller down payment - as low as 5 percent in some cases.
With the smaller down payment loans, however, borrowers are usually
required to carry private mortgage insurance. Private mortgage
insurance will usually require an initial premium payment and may
require an additional monthly fee depending on you loan's structure.
Sites of interest about about Private Mortgage Insurance (PMI):
Courtesy links about Private Mortgage Insurance:
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