Question
Do i need mortgage insurance?
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28th Nov 2009 by Burt Carlson
If you buy a home and put less than 20% down on a conventional loan the lender will require that you have mortgage insurance (actually called Private Mortgage Insurance or PMI). If you are doing an FHA loan you will still have to pay mortgage insurance but FHA's minimum down payment is 3.5%. VA loans do not require mortgage insurance.
If you buy a home and put less than 20% down on a conventional loan the lender will require that you have mortgage insurance (actually called Private Mortgage Insurance or PMI). If you are doing an FHA loan you will still have to pay mortgage insurance but FHA's minimum down payment is 3.5%. VA loans do not require mortgage insurance.
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26th Nov 2009 In Insurance
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Subjects: mortgage insurance,