Posts filed under 'How to Avoid PMI'

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

How Can I Avoid PMI?

The easiest way to avoid PMI is to invest a 20 percent down payment at the time of the loan. Lenders will not require PMI when the loan to value (LTV) is 80% or less. However, coming up with 20 percent down payment is very difficult for many borrowers.

Continue Reading Add comment September 7th, 2005

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