Everything you need to know about PMI
Over the years, HSH.com has been asked almost every question imaginable about mortgage insurance. Years ago we put together a large, all-encompassing guide to help homebuyers and homeowners like you get a full understanding of mortgage insurance and how it works for you and your lender.
Since there is so much to understand, we decided to break down the complex topic of mortgage insurance into seven basic chapters: what is mortgage insurance, who needs it, the different types of MI, how you pay for it, when you can stop paying mortgage insurance, how to cancel and how to avoid MI. We’ve even given you a brief overview of the law which governs MI and how it came to be.
This new mortgage insurance guide from HSH.com allows you to easily find a fast answer to your specific MI question (and if you don’t see it here, feel free to email us). While the intent here is to answer your question quickly and easily, we do recommend that you take a few minutes and read the entire guide to get a clear understanding of your rights and responsibilities, and your lender or servicer’s role, too.
Along the way, we’ll also introduce you to some tools wholly unique to HSH.com, including a PMI cost calculator, a calculator that shows you exactly when you can cancel your MI policy, and even a calculator to help you to decide how much of a down payment to make to maximize the use of your savings when buying a home.