Colorado Springs Vintage Homes Blog
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Archive for June 18th, 2009
Why do I have to pay mortgage insurance?
Colorado Springs Vintage Homes is happy to feature a great article by
Harry Venik with Adams Mortgage, LLC in Colorado Springs
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Why Pay Private Mortgage Insurance (PMI)?
Private Mortgage Insurance (PMI) is required by most lenders when a borrower puts less than 20% down on a purchase loan. Paid for by the borrower, PMI not only protects the lender from foreclosure, it also enables many buyers to qualify for loans and purchase real estate when they couldn’t have otherwise. On January 1st, 2007, legislation went into effect making Read the rest of this entry »
