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Benjamin Pack

NMLS ID 632031

801-912-8484 bpack@boemortgage.com


Learn About PMI

When purchasing a home, the primary way of avoiding paying Mortgage Insurance (or MI) is by putting a down payment toward the home of 20% or more.  This can be a daunting task if there are not enough assets to commit to this amount of money.  Paying MI is frustrating because it is money spent that goes toward no part of the equity of your home.  MI is designed to protect the lender against loss as loans with less than 20% down are characterized as being of higher risk to the lender.  It does not benefit the customer in any way.  As a result, customers prefer not &ldquo...

November 30th, 2016 | Combo Loan, Learn About PMI