Is PMI always required on low-down home loans?

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Carolyn & Wayne Crowe

Maximum One Realty

3304 Mapleleaf Way

Powder Springs, Georgia, 30127

Office: 770-795-0303

Cell: 404-863-1719

Fax: 770-514-0080

cobbhomes@bellsouth.net

www.CobbHomesForSale.com

Lic. #: 203360

Is PMI always required on low-down home loans?

Is PMI always required on low-down home loans?

A growing number of private lenders are loosening up their requirements for low-down-payment loans. But private mortgage insurance, or PMI, usually is required on loans with less than a 20 percent downpayment. The Homeowners Protection Act states PMI must be dropped on any loan originated after July 29, 1999 IF it has a 78 percent loan-to-value ratio.

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Last Updated ( Tuesday, 29 July 2008 )

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