AlfonsoGomezBroker.com - Private Mortgage Insurance (PMI) is an expense that most buyers don't consider when thinking of buying a home. PMI does zero for the consumer, it is specifically there to protect the lender in case the borrower defaults. PMI is an additional monthly cost for all borrowers putting less than 20% down payment.
The best course of action home buyers should take is to talk to a profession mortgage officer or broker. They will explain in detail what this fee means and how much it will cost you specifically.
If you have any question contact me asap.
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