Federal law requires a lender to cancel private mortgage insurance (PMI) on conventional loans when a mortgage term is at its halfway point, or when the mortgage balance drops to 78 percent of the ...

Even once you’ve reached the 20% equity threshold, you may still be charged for PMI.

Let’s start off the new year with a money saving tip, especially for low-down payment, first-time owners who bought a home more than two years ago. If you bought your home using conventional financing ...

Mortgage insurance allows homebuyers to purchase homes with down payments of less than 20%. This credit enhancement tool involves paying an additional charge with your mortgage to protect the lender ...

David McMillin writes about credit cards, mortgages, banking, taxes and travel. Based in Chicago, he writes with one objective in mind: Help readers figure out how to save more and stress less. He is ...

Buying a new home comes with many additional costs, one of which is private mortgage insurance (PMI). PMI generally applies for conventional loans where you put less than 20% down. This insurance ...