The 3 Strategies to Pay PMI

The 3 Strategies to Pay PMI

Update: 2024-02-23
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The 3 Strategies to Pay Private Mortgage Insurance (PMI)



Whether they're putting 15% down and buying a non-owner-occupied property or utilizing an owner-occupied loan with 0%, 3%, 3.5%, or 5% down for Nomading™ or house hacking, some real estate investors will choose to put less than 20% down. With the decision to put less than 20% down comes the choice of how to pay for private mortgage insurance (PMI).



There are three options (plus some combinations of the three options): up-front lump sum, lender-paid, and monthly. And, as you might have guessed, there are pros and cons to each option.



In this mini-class, James will cover the three options and go over the pros and cons of each.



Check out the video from this class here:



The 3 Strategies to Pay Private Mortgage Insurance - Video



In this class, James discusses:




  • What is Private Mortgage Insurance (PMI) and why does it exist?

  • Paying PMI with a single, upfront, lump-sum payment

  • Voluntarily increasing your mortgage interest rate and having the lender pay for PMI

  • Paying PMI monthly

  • The pros and cons of utilizing each strategy

  • Plus much more...



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The 3 Strategies to Pay PMI

The 3 Strategies to Pay PMI

James Orr