What Is Pmi

What is Private Mortgage Insurance (PMI)?

On a conventional mortgage, when your down payment is less than 20% of the purchase price of the home mortgage lenders usually require you get Private Mortgage Insurance (PMI) to protect them in case you default on your mortgage. Sometimes you may need to pay up to 1-year's worth of PMI premiums at closing which can cost several hundred dollars. One way to avoid this extra expense is to make a 20% down payment, or ask about other loan program options.*

*For loan examples and more information please visit www.apmortgage.com/disclosures.

© 2024 American Pacific Mortgage Corporation (NMLS 1850). All information contained herein is for informational purposes only and, while every effort has been made to ensure accuracy, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions apply. Equal Housing Opportunity. Branch NMLS #129988 - AZ license #: 0946515 Licensed by the Dept of Financial Protection and Innovation under the CRMLA Georgia Residential Mortgage Licensee Licensed under the Oregon Consumer Finance Act | Licensed by the Department of Financial Institutions, Consumer Loan Company License CL-1850. Licensed in CA, FL, OR, ID, AZ, TN, GA, TX, MT, WA, CO, SC, HI, KY, NV. AZ BK 0906702
Not Available in New York

Regulated by the Colorado Division of Real Estate NV MB 164

Texas Disclosure Notice

https://www.apmortgage.com/state-license-info

Not available in New York

What is Private Mortgage Insurance (PMI)?

Social Media

Contact Cindy Tomlinson