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logo
  • Home
  • Home Purchase
  • Refinance
  • Apply Now
  • Today's Rates
  • Resources
  • Loan Programs
  • Loan Process
  • Mortgage Basics
  • Mortgage Calculators
  • Online Forms
  • FAQ
  • About
  • Contact
  • Blog
  • (918) 416-0479

What is Private Mortgage Insurance (PMI)?

On a conventional mortgage, when your down payment is less than 20% of the purchase price of the home mortgage lenders usually require you get Private Mortgage Insurance (PMI) to protect them in case you default on your mortgage. Sometimes you may need to pay up to 1-year's worth of PMI premiums at closing which can cost several hundred dollars. The best way to avoid this extra expense is to make a 20% down payment, or ask about other loan program options.

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About Us

We've been helping customers afford the home of their dreams for many years and we love what we do.

Company NMLS: MB011966
www.nmlsconsumeraccess.org

Contact Us

3101 N Hemlock Cr. Suite 1001
Broken Arrow, Oklahoma 74012
Phone: (918) 416-0479
info@moreequitymortgage.com

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