Primary Mortgage Insurance (PMI) is insurance that lenders require from homebuyers who obtain loans that are more than 80% of their home's value. In other words, buyers with less than a 20% down payment are required to pay PMI.
Primary Mortgage Insurance (PMI) is insurance that lenders require from homebuyers who obtain loans that are more than 80% of their home's value. In other words, buyers with less than a 20% down payment are required to pay PMI.
