5 Replies to “What IS Mortgage Insurance?”

  1. Hi, I live in Michigan. When I purchased my home, over a year ago, I did not have 20% down. I do have a conventional loan however. I want to get rid of my PMI. I just spoke with my lender and they told me that the PMI is based on the loan amount not the purchase price. I thought that if I got the principal down below 20% of the purchase price that I could eliminate my PMI payment. Which is right?

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