Should you do a piggyback loan to avoid PMI?
Tuesday, June 24th, 2008Ready to close a home loan and don’t have 20% cash or equity to put down on your home then you have herd your lender talk about PMI or private mortgage insurance. PMI is insurance that you are required to pay if you don’t have at least 20% equity in your home.
In mortgage market standard is important and therefore not all loans are considered secured loans. There are more of unsecured loans that can be a bad credit loan at any time.