Eliminating Private Mortgage Insurance

December 22, 2009 by Rob Spring · Leave a Comment 

How to Eliminate your PMI: 
For loans made after July 1999, lenders are required by federal law to automatically cancel Private Mortgage Insurance (PMI) when the loan balance falls below 78 percent of your purchase price — not when you achieve 22 percent equity, which will happen much more quickly with rising property values. (Certain “higher [...]

What is PMI?

November 29, 2009 by Rob Spring · Leave a Comment 

Private Mortgage Insurance Helps You Get the Loan
Private Mortgage Insurance, also known as PMI, is a supplemental insurance policy you may be required to obtain in order to get a mortgage loan. PMI is provided by private (non-government) companies and is usually required when your loan-to-value ratio — the amount of your mortgage loan divided [...]