Bulverde/Spring Branch, TX Real Estate
Donna Clement
210-876-2146210-876-2146

What You Need to Know About Private Mortgage Insurance in Bulverde | Spring Branch, TX

Whether it is your first time or your fifth, it is always important to know all the facts when it comes to buying a home in Bulverde|Spring Branch, TX. With the large number of mortgage programs available that allow buyers to purchase homes with down payments below 20%, you can never have too much information about Private Mortgage Insurance (PMI).

What is PMI?

Freddie Mac defines PMI as:

“An insurance policy that protects the lender if you are unable to pay your mortgage. It’s a monthly fee, rolled into your mortgage payment, that is required for all conforming, conventional loans that have down payments less than 20%.

Once you’ve built equity of 20% in your home, you can cancel your PMI and remove that expense from your mortgage payment.”

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