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Hutchinson, KS News

Hutchinson News
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310 W. 27th. Street
Hutchinson, KS, 67502
Office: 800-339-8841
Cell: 800-339-8841
Fax: 800-339-8841
Is PMI always required on low-down home loans? PDF Print E-mail

Is PMI always required on low-down home loans?

A growing number of private lenders are loosening up their requirements for low-down-payment loans. But private mortgage insurance, or PMI, usually is required on loans with less than a 20 percent downpayment. The Homeowners Protection Act states PMI must be dropped on any loan originated after July 29, 1999 IF it has a 78 percent loan-to-value ratio.
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Last Updated ( Tuesday, 29 July 2008 )
 
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