What is private mortgage insurance (PMI)? Private mortgage insurance (PMI) is an extra expense that conventional mortgage holders have to pay lenders each month. It typically applies to borrowers ...

Let’s start off the new year with a money saving tip, especially for low-down payment, first-time owners who bought a home more than two years ago. If you bought your home using conventional financing ...

Homebuyers can avoid paying PMI if their down payment is large enough Barclay Palmer is a creative executive with 10+ years of creating or managing premium programming and brands/businesses across ...

David McMillin writes about credit cards, mortgages, banking, taxes and travel. Based in Chicago, he writes with one objective in mind: Help readers figure out how to save more and stress less. He is ...

When purchasing a home with a conventional loan, you might be required to pay for private mortgage insurance (PMI). This is generally the case if your down payment doesn’t meet a certain threshold of ...

The time had finally arrived—my husband and I had saved enough for a home down payment and we were off to the bank to get approved for our first mortgage. Talking to the loan officer we discussed term ...

Buying a home usually has a monster obstacle — coming up with a sufficient down payment. You can put less than the traditional 20% down payment but the lender will likely require you to buy mortgage ...