Private Mortgage Insurance: What is PMI & How Much Does it Cost?
If you make a down payment of less than 20%, most mortgage lenders will require you to pay for private mortgage insurance (PMI). PMI is charged based on the loan value, your credit score, and other factors, and can be expensive.
Many or all of the companies featured provide compensation to LendEDU. These commissions are how we maintain our free service for consumers. Compensation, along with hours of in-depth editorial research, determines where & how companies appear on our site.