What is Private Mortgage Insurance?

The National Housing Act of 1934: What You Need to Know

The type of insurance added to conventional loans. This is usually required when a borrower has less than 20% equity (greater than 80% LTV) in their home. PMI is commonly paid as a monthly premium added to the mortgage bill. It is usually about 0.3 to 1.15% of the loan balance.

If you’d like to learn more, simply fill out the form below and a friendly FHA Streamline Refinance specialist will get in touch!