Private mortgage insurance (PMI) is an extra monthly fee that you pay on a conventional mortgage if you put less than 20 percent down. PMI must be terminated at a certain point in your loan term or ...
The calculator's default is 20%, which is the amount you'll need to put down if you want to avoid paying for private mortgage insurance if you're getting a conventional loan. Length of the loan: Your ...
Federal law requires a lender to cancel private mortgage insurance (PMI) on conventional loans when a mortgage term is at its halfway point, or when the mortgage balance drops to 78 percent of the ...
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