What a private mortgage insurance or PMI does is it provides protection to the lender by guaranteeing payment in case of default from borrower. The borrower will in turn pay a monthly mortgage insurance fee. Cost of PMI
For example, a 15 percent down payment is less than the cost of PMI on a 10 percent down payment.Canceling PMI
If you wish to cancel your PMI, contact your lender.Florida Private Mortgage Insurance
When you are looking for a mortgage broker make sure they are qualified, most mortgage broker have gone to school and have years of training under a senior broker to ensure the know the ins and outs of the mortgage industry. The industry has a designation calls Accredited Mortgage Professional to differentiate the category of mortgage broker.
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