Do you have mortgage insurance and want to get rid of it?
Mortgage insurance, also known as PMI, is a lender’s protection program in the event of a default on the loan.
PMI is required for anyone that cannot put down 20%, which means a lot of us have it! Even if you are looking at a loan program that doesn’t have PMI you are most likely paying a higher interest rate in order for the lender to cover a potential default.
Find out how to get rid of PMI no matter what kind of loan you have with this week’s tip!