Private Mortgage Insurance Confusion

October 12th, 2009

 

Getting a Conventional loan with less than a 20% down payment means paying Private Mortgage Insurance (PMI). And you should be aware that getting PMI has become much more complicated and more difficult.

It is almost impossible to get PMI for a 95% loan is most of the Washington DC Metro area, since most of DC is considered a “declining market”. You would likely have to have 10% down payment in the Washington DC area for a mortgage loan. Read the rest of this entry »

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