Keyword Analysis & Research: mortgage calculator pmi

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Frequently Asked Questions

Should I ever get a mortgage with PMI?

Private mortgage insurance (PMI) can be an expensive requirement for getting a home loan. PMI is likely to be required on mortgages with a loan-to-value ratio (LTV) greater than 80%. Avoiding PMI can cut down on your monthly payments and make your home more affordable.

Can I use second mortgage payment instead of PMI?

Another way to avoid PMI is to use a second mortgage. The first mortgage must be capped at 80 percent of the home's value to avoid PMI, and a second mortgage will usually allow for another 10percent financing on top of this, for a total of 90 percent financing.

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