Thursday, April 25th 2019

Question

Do i need private mortgage insurance?

Interesting Question?   (3)   (9)



Answers (2)

2nd Dec 2009 by JonB

PMI is required if the LTV of a loan is over 80%. The reason most people avoid PMI , but still obtain 100% financing is because of the 80/20. The first loan being 80% LTV and a second loan with 20% LTV. There are some loans with LTVs around 90% that get around the PMI requirement, but typically high LTV financing is broken up into 2 loans to avoid PMI.

Like This Answer?   (0)   (0)
This answer is the subjective opinion of the writer and not of FinancialAdvisory.com
28th Nov 2009 by Burt Carlson

Lenders doing conventional home loans (loan under $417,000) require Private Mortgage insurance (PMI) if the borrrower cannot put at least 20% down. So, if a borrower is not puting 20% or more down they will be required to pay PMI. The premium is determined by the insurer and is based on the loan to value (LTV).

Like This Answer?   (0)   (0)
This answer is the subjective opinion of the writer and not of FinancialAdvisory.com



26th Nov 2009 In Insurance 2 Answers | 2241 Views
Subjects: private mortgage insurance,

Answer This Question / Give Your Opinion
Do i need private mortgage insurance?


Answer: *

What country is this answer relevent to? *
Your Name: *

Enter Verification Number: *


Give Your Opinion
Where in Buenos Aires is the best location to find an apartment to rent or buy?
Share a simple answer to help inform others:
Specific to any country?
First name / Alias

• Your answer will be posted here:
Where in Buenos Aires is the best location to find an apartment to rent or buy?
Unanswered Questions in Insurance
Do i need auto insurance?
What Insurance products do Amica provide in the US?
What Insurance products do Pemco provide in the US?
What Insurance products do Conseco provide in the US?
What Insurance products do Berkshire Hathaway provide in the US?

Answered Questions in Insurance
Who provides Roadside Breakdown Assistance Insurance in the US?
What should car insurance cost?
Do i need uninsured motorist insurance?
Do tickets affect insurance?
Do i need long term disability insurance?
Ask A Question
Get opinions on what you want to know:
Specific to any country?