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What impacts your Private Mortgage Insurance, PMI, rate in Amarillo when buying properties with less than 20% down payment?
What Affects Your PMI Rate
Lenders prefer that you put at least 20% down, but if you push hard enough, many will allow you to put less than 20% down if you're willing to purchase insurance to protect them in case you default. This insurance is called Private Mortgage Insurance.
The cost of this insurance depends on several factors. Some are primary factors and have a significant impact on the cost of the insurance policy. Other factors are secondary and affect the premium, but only to a smaller extent.
In this mini-class, James will go over the things that affect your private mortgage insurance rate if you decide to put less than 20% down when buying properties.
Check out the video from this class here:
What Affects Your PMI Rate - Video
In this class, James discusses:
Learn all about investing in real estate in Amarillo, Texas with a combination of real estate financial planning and modeling with numbers specific to Amarillo plus syndicated, more generalized recordings of live and pre-recorded real estate investing classes (not all specific to Amarillo).