Posts Tagged ‘debt to income ratio’

Home Buyer Tip | Learn about Private Mortgage Insurance

Monday, December 30th, 2013

Private mortgage insurance, or PMI, insures the lender against a default. It is required when the borrower is making a cash down payment of less than 20 percent of the purchase price. PMI costs vary from one mortgage insurance firm to another, but premiums usually run about 0.50 percent of the loan amount for the…Read More »