Courtney Ronan provides detailed information on PMI (Private Mortgage Insurance) for home buyers that put down less than 20% on a property purchase. PMI is an additional cost, to protect the Lender, on top of Principal, Interest, Insurance (property) and Taxes. Calculations must be made: price of property per month vs cost to rent.
Read all the details of this Mortgage Insurance topic. Typically one more hurdle for the first time home buyer to understand with the purchase of a new home.
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