|
Is PMI always required on low-down home loans? |
|
|
|
Is PMI always required on low-down home loans?
A growing number of private lenders are loosening up their requirements for low-down-payment loans. But private mortgage insurance, or PMI, usually is required on loans with less than a 20 percent downpayment. The Homeowners Protection Act states PMI must be dropped on any loan originated after July 29, 1999 IF it has a 78 percent loan-to-value ratio.
Questions about Summerville Real Estate?
Ask us below or Call us Now at 843 849 7587
|
|
Last Updated ( Wednesday, 30 July 2008 )
|
