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PMI

What is PMI? Private Mortgage Insurance Explained

What is PMI? Private Mortgage Insurance Explained

Anyone looking to buy a home faces a major obstacle, coming up with that hefty down payment. The standard advice is to have a least 20% of the purchase price saved up, and for good reason. Sure, there are mortgage options that allow you to make a down payment of less than 20%. But that will mean having to take out PMI, private mortgage insurance. As you’ll soon see, this is something you’d be better to...

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