Private mortgage insurance (PMI) is an extra monthly fee that you pay on a conventional mortgage if you put less than 20 percent down. PMI must be terminated at a certain point in your loan term or ...

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 conventional wisdom about private mortgage insurance has long been that borrowers should try to avoid it. PMI is a requirement for conventional mortgage borrowers who put down less than 20% on a ...

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 ...

Mortgage insurance premiums (MIPs) are a type of insurance paid to the Federal Housing Administration (FHA) for certain mortgage loans. If you can buy a home with a Federal Housing Administration (FHA ...

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 ...

If you got your FHA loan after the year 2000, you may be able to cancel your FHA mortgage insurance. If you got your loan before 2000, you’ll continue to pay the premiums in most cases. If your loan ...

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 ...

Buying a new home comes with many additional costs — one being private mortgage insurance (PMI) for home purchases with less than a 20% down payment on a conventional loan. This insurance protects the ...

This article was first published on NerdWallet.com. 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 ...