How Much Will PMI Cost?
How Much Will PMI Cost? - The cost of PMI can and will increase how much you pay on your mortgage. Exactly how much it will increase is depended on the amount of your loan, your credit score, and how much you put down as a down payment on the property you are buying.
After the real estate and financial crash of 2008, most banks and lenders are requiring you to put down 20% or more when you are purchasing a home. This gives them greater security that you can afford the home and will not default if you have so much of your own money invested into the property.
Read More: 20% Down
After the real estate and financial crash of 2008, most banks and lenders are requiring you to put down 20% or more when you are purchasing a home. This gives them greater security that you can afford the home and will not default if you have so much of your own money invested into the property.
Read More: 20% Down
posted by Team IWP | 7:29 AM
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