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Can you stop paying Private Mortgage Insurance (PMI)?

Posted by Admin Posted on Feb 20 2023

Can you stop paying Private Mortgage Insurance (PMI)?

Usually people that make a down payment of less than 20% are required to pay private mortgage insurance by their lender. Once you reach 20% equity, PMI is cancelled, and any money accrued in your escrow account towards it will be credited to you.

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Source:   Thomson Reuters     

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