Archive for March, 2006

Is PMI Tax Deductible?

With tax season just around the corner, many taxpayers are looking for any and all deductions possible to increase their refunds or minimize their payments, depending on their situation. Homeowners often benefit from being able to deduct mortgage insurance, late payments and any mortgage points paid during the year. But one question often comes up “is my private mortgage insurance (PMI) deductible?”

Continue Reading Add comment March 13th, 2006

Piggyback Loans Can Solve PMI Riddle

When buying a new home without a 20 percent downpayment, many borrowers are forced to pay for costly private mortgage insurance or PMI. Although not all mortgage loans require PMI in these situations, any mortgage that is backed by Fannie Mae or a similar government type loan will require PMI payments.

Continue Reading Add comment March 9th, 2006


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