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 ...
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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Is private mortgage insurance (PMI) tax-deductible?
The private mortgage insurance (PMI) deduction expired after the 2021 tax year. For eligible years, PMI was deductible only if you itemized your tax deductions. Most borrowers pay mortgage insurance ...
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