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 ...

When purchasing a home with a conventional loan, you might be required to pay for private mortgage insurance (PMI). This is generally the case if your down payment doesn’t meet a certain threshold of ...

The conventional wisdom about private mortgage insurance has long been that borrowers should try to avoid it. PMI is a requirement for conventional mortgage borrowers who put down less than 20% on a ...

Let’s start off the new year with a money saving tip, especially for low-down payment, first-time owners who bought a home more than two years ago. If you bought your home using conventional financing ...

Mortgage lenders require you to have private mortgage insurance (PMI) when your down payment is less than 20% of your home's value. The amount you pay depends on how much you borrow, but its annual ...

Mortgage Research Center. The average rate on a 15-year mortgage refinance is 5.28%. On a 20-year mortgage refinance, the ...

Mortgage insurance premiums (MIPs) are a type of insurance paid to the Federal Housing Administration (FHA) for certain mortgage loans. If you can buy a home with a Federal Housing Administration (FHA ...

Buying a new home comes with many additional costs — one being private mortgage insurance (PMI) for home purchases with less than a 20% down payment on a conventional loan. This insurance protects the ...

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 ...