Here’s what committee projects for remainder of yearThe Federal Reserve just voted to raise interest rates for the second time in 2018.The Federal Open Market Committee unanimously voted
What Is Private Mortgage Insurance PMI
Private mortgage insurance provides protection to a lender in case you default on your home loan.
WHO IS IT FOR?
It’s for many aspiring homeowners, especially first-time buyers, who simply can’t afford to put down 20% on a house. Without the safeguard offered by PMI, lenders would be reluctant to extend mortgages to low-equity purchasers.
PMI might be unavoidable, but it isn’t eternal. Knowing exactly when you’re entitled to cancel coverage can save you a bundle!
SOURCE: HOUSE LOGIC