Checklist Tags

These are the checklists related to Private Mortgage Insurance.

These are all the tasks that are related to Private Mortgage Insurance (PMI). PMI is usually required when you use less than 20% Down Payment to purchase a property. In many cases, it can be removed once you have at least 20% of equity in your property.

When you click on the task, you can also see the tags that task is filed under. You can also click on the tag to see other tasks with that tag.

  1. Discuss monthly PMI versus up-front PMI with Lender
    Often for Nomads it is better to pay a one-time up front PMI (Private Mortgage Insurance) payment instead of monthly PMI on their loans.

    This may mean coming to Closing with a little more cash.

    Sometimes it means voluntarily raising your interest rate with your Lender to get a credit to pay for some or all of the up-front PMI.

    Discuss these two scenarios with your Lender to see which one makes more sense to you.

    Mark this task complete once you've discussed this with your Lender and decided which you'll pick.

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