Is PMI always required on low-down home loans?

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Joe Bergquist

Assist-2-Sell

1740 Spring St. Suite C

Paso Robles, CA, 93446

Office: (805) 239-0000

Cell: (805) 423-2910

Fax: (805) 239-1546

joebergquist@hotmail.com

http://www.paso-robles-ca-real-estate.com

Lic. #: 01354737

Is PMI always required on low-down home loans?

Is PMI always required on low-down home loans?

A growing number of private lenders are loosening up their requirements for low-down-payment loans. But private mortgage insurance, or PMI, usually is required on loans with less than a 20 percent downpayment. The Homeowners Protection Act states PMI must be dropped on any loan originated after July 29, 1999 IF it has a 78 percent loan-to-value ratio.

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Last Updated ( Tuesday, 29 July 2008 )

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