Removing Private Mortgage Insurance (PMI) from your mortgage
As you pay on your mortgage, the loan balance goes down a little each month. Once it is less than 80 percent of the original value, you can request the PMI be removed.
How to get rid of private mortgage insurance
If you bought a house with a down payment of less than 20 percent, your lender required you to buy mortgage insurance. The same goes if you refinanced with less than 20 percent equity. Private mortgage insurance, called PMI for short, is expensive. But you can remove...Important mortgage terms
LOVELAND – Real estate terminology can be confusing, especially when it comes to mortgages. Many terms aren’t quite clear and some are simply misunderstood. Here are a few important mortgage terms that you should know if you plan on purchasing a home. Appraised value...Time to evaluate your PMI?
LOVELAND – Did you put less than 20% down on your home loan? Are you paying a monthly PMI premium? If so, now may be a good time to evaluate your market value and possibly eliminate your PMI payments. What is PMI? PMI is what lenders normally charge when you...