US EditionAs mortgage insurance gets cheaper, PMI becomes less of ‘a dirty word’
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As mortgage insurance gets cheaper, PMI becomes less of ‘a dirty word’
The conventional wisdom about private mortgage insurance (PMI) has long been that borrowers should try to avoid it. PMI is a requirement for conventional mortgage borrowers who put down less than 20% on a home — and it’s just one more cost squeezing first-time homebuyers. Yet, in recent years, private mortgage insurers have lowered their rates. “I am a big fan of mortgage insurance — and it’s ...
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