On this episode of Open House, Reba and Eric welcome guest Sharon Knowles of Arch Mortgage Insurance to provide her expertise on the subject of PMI (Private Mortgage Insurance), and its importance in qualifying for certain kinds of loans.
You’ll learn:
- How PMI can make the difference in qualifying for a loan
- The relationship between PMI and down payment.
- Factors for determining how expensive your PMI is.
- The conditions that allow you to drop your PMI.
- Ways to adjust PMI to lower your mortgage payments.
- The variety of options for financing PMI.
- The difference between PMI and Credit Life/Credit Disability Insurance.
Plus, Reba and Eric discuss the current tumultuous market dynamics, and leveraging them to your financial advantage, as well as best practices for making a winning offer.
So if you think PMI is just a monthly headache, tune in to this episode and get some much needed relief.