The pmi tag has no wiki summary.
2
votes
1answer
91 views
PMI cancellation based on original mortgage amount
We bought a house in 2005, and since we did not put 20% down, we have been paying PMI. Since then, the value of our home (and neighborhood) has declined. Our principal balance is currently 77% of ...
4
votes
3answers
179 views
Is PMI rate set until 20% paid off
From various things I have read, it seems like PMI stays at the same rate, regardless of how much you owe. Is that right? That is, say I put down 10% and I get PMI. Will my PMI payments stay the ...
0
votes
1answer
103 views
Can I get a tax deduction for PMI?
My yearly income is less than $80000 but my joint income goes 150000+. If i file married filing separately, will i be able to claim PMI? I think there is income limit to claim it but i am not sure of ...
3
votes
2answers
517 views
First Time Home Buyers - Down Payment, PMI and Points
My wife and I are looking to buy our first home in the next couple months and wanted to get an idea of what we are looking at. Right now we have about 80k saved up and want to put 10% down on a home ...
4
votes
3answers
2k views
Why would refinancing my mortgage increase my PMI, even though rates are lower?
I'm currently stuck in a 5.5% loan on balance 167.5k. PMI is roughly $75/mo. I am trying to refinance, but my lender tells me that even going down to ~4% rates, it wouldn't be worth it because my PMI ...
2
votes
2answers
86 views
FHA streamline refi
I am looking into doing a streamline refi on my 211,000 FHA loan with interest rate of 5.5%, 30 yr fixed. I've had this loan for 2 years. I can get a 4.25% rate, 30 yr fixed. My concern is that my MIP ...
5
votes
4answers
361 views
Lower rate with PMI or higher rate?
I'm currently in the process of looking for home to buy, and one of the options is one costing 460K, which I plan to pay with 15% down and the rest (391K) financed. Since it's less than 20% down, the ...
4
votes
2answers
456 views
I have a mortgage with PMI, what happens to PMI when I get to the 'safe' LTV ratio?
I have a mortgage with PMI, what happens to PMI when I get to the 'safe' LTV ratio?
Does my payment stay the same and more money goes to paying off interest or principal? Does my payment drop?
5
votes
2answers
208 views
Primary Residence to Investment Property - Changing PMI Terms
When I purchased my property, it was my primary residence. Two years later, I moved out and began renting this property out. I am now trying to refinance the mortgage on this property, but I am not ...
7
votes
4answers
172 views
Our home equity has increased. Can we get rid of PMI without an appraisal?
We have Private Mortgage Insurance on our house because we didn't put 20% down when we bought it. We've recently paid some extra money on the mortgage, and we now have > 22% equity. We've contacted ...
2
votes
2answers
503 views
Is it possible to eliminate PMI (Personal/Private Mortgage Insurance) on a mortgage before reaching 20% down on principal?
I am a relatively new home owner, having purchased my first home in October 2009. Overall, I feel I got an excellent deal on the loan, which was 5% no-cost, no points, and 12% down. I had to take on ...
3
votes
2answers
665 views
What does PMI mean?
I've seen the term PMI used a couple of times on this site and don't know what it is. What is it?
