Basic Facts Regarding Private Mortgage Insurance

• Private Mortgage Insurance, or PMI is the insurance that protects the lender's risk when your loan is for greater than 80% of the value on a Conventional (non FHA or VA) loan. 

• All FHA loans require mortgage insurance involving an up-front fee that can be financed and also a monthly fee.

• VA loans have an upfront fee that can be financed (unless there is a disability waiver) but no additional monthly fee. 

Enjoy these informative videos on when and how you may eliminate the PMI on your mortgage to substantially lower your monthly mortgage payments