Friday, November 28, 2008

What is PMI Insurance

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What is PMI Insurance or Private Mortgage Insurance Mean?

It is a policy which is provided by private mortgage insurers for the protection of lenders against loss if a borrower fails to pay. With excess of 80 percent for loans with loan-to-value percentages a lender requires PMI. This is an opportunity for lesser down payment of as low as 3 percent, instead of 20 percent which allows an initial payment and monthly fee....More


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