How To Apply For PMI
So you need to borrow more than 80% of the value of the house and you’re wondering how you apply for private mortgage insurance right? Don’t, the lender will apply on your behalf with one of the major PMI underwriters. You never need to personally apply for private mortgage insurance.
Does this mean that you won’t be able to compare rates? Yes, it means you won’t be able compare rates and pick the best one but they’re all pretty much the same so it won’t make much of a difference. Your time is better spent looking at and negotiating the other aspects of your home purchase such as the title insurance, home inspection, and other contingencies. Also, understanding any favorable tax laws can save you more money than the small percentage points of PMI, at least in the short term. Good luck!
This entry was posted on Tuesday, May 2nd, 2006 at 5:03 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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