PMI or Private Mortgage Insurance is something that takes place when a borrower is getting a mortgage that is higher than 80% Loan to Value
The two most popular mortgage loan programs are Fannie Mae/Freddie Mac also known as conventional loans and FHA which is a great First Time Home Buyer Program that has it’s own set of rules
Here is a Video that explains the pros and cons of PMI when it comes to comparing a Conventional loan and a FHA loan
We will always show you both options. Typically conventional pricing is better for higher credit score customers
Video from July 2023
