Tag PMI

Tag PMI

What is Mortgage Insurance or PMI?

John Thomas December 29, 2018 Tags: ,
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What is Mortgage Insurance or PMI?

Mortgage Insurance is an insurance policy that protects lenders against a borrower defaulting on the mortgage loan for a portion of the loss incurred by the lender.  Mortgage Insurance is sometimes termed PMI which stands for Private Mortgage Insurance.  Mortgage lenders typically do not want to lend more than 80% of the value of a home as it is too risky long term.  Mortgage insurance is used to offset the risk to the lender and allows a borrower to put down less than 20% to purchase a home so it creates a win-win scenario for lender and borrower.  If you have questions or would like to get started on a mortgage pre-approval, call 302-703-0727 or you can APPLY ONLINE Keep Reading...

No PMI Loans in Delaware?

John Thomas February 12, 2008 Tags: ,

No PMI Loans in Delaware?

Can you get a loan with no Private Mortgage Insurance (PMI)?  This depends on the type of mortgage loan you are applying for financing such as FHA Loan, VA Loan, USDA Loan, Conventional loan, or a Non-QM loan.  You can get a loan with no monthly mortgage insurance if that is what you are looking to obtained.  In order to understand what you are options are, we need to start by explaining PMI.  If you have questions or want to get started on a mortgage pre-approval, call us at 302-703-0727 or GET STARTED ONLINE Keep Reading...