Private mortgage insurance (PMI) is a fee that lenders typically charge when someone has less than 20% equity, or ownership, in their home. PMI is usually between 0.3% and 1.5% of the mortgage amount.
Q&A: What is private mortgage insurance (PMI)?
Private mortgage insurance (PMI) is a fee that lenders typically charge when someone has less than 20% equity, or ownership, in their home. PMI is usually between 0.3% and 1.5% of the mortgage amount.