🏡 Real Estate Vocabulary: Private Mortgage Insurance (PMI) 🏡

Did you know that if you put less than 20% down on a home, you’ll likely have to pay PMI? 💰

🔹 What is PMI?
Private Mortgage Insurance is a monthly fee added to your mortgage payment that protects the lender in case you default on the loan.

🔹 Can You Remove PMI?
Yes! Once you've built 20% equity in your home, you may be able to remove PMI and lower your monthly payment! 🙌

Need help navigating your financing options? Let’s chat! 📩📞

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