What is Private Mortgage Insurance PMI and why is it important?

In this video, we're going to discuss what Private Mortgage Insurance (PMI) is and why it's important. PMI is a policy that many lenders require when you take out a mortgage. PMI protects the lender in the event that you don't make your mortgage payments. So what is Private Mortgage Insurance? It's essentially insurance that protects the lender in the event that you don't make your mortgage payments. Private Mortgage Insurance premiums vary based on the type of mortgage you take out, but in general they are a fee that you pay to the lender in the event that you don't make your mortgage payments. So if you're concerned about the cost of Private Mortgage Insurance and whether or not it's important for you, be sure to watch this. Are you thinking about relocating to Charlotte NC or are you already a resident? Interested in The Charlotte real estate market or the Queen City real estate market or are looking for a Charlotte REALTOR please let me know. Let me know in the comments section. If you are a business owner and would allow me to feature your business, Let Me Know! Thank you for watching😁 New videos WEEKLY! Thank you for checking out my channel! My goal is to provide weekly information that is actually USEFUL to help you make the right decisions when buying or selling property. Mary Howard Call/Text 704-560-0823 Email: [email protected] Website: https://thereisnoplacelikehomenc.com/ 00:00 What is Private Mortgage Insurance PMI 01:00 private mortgage insurance explained 01:51 how do i pay for PMI 02:14 how to avoid PMI 03:00 get rid of pmi