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The 3 Strategies to Pay PMI
Manage episode 402614498 series 3467373
Real Estate Financial Planner LLC and James Orr and James Orr द्वारा प्रदान की गई सामग्री. एपिसोड, ग्राफिक्स और पॉडकास्ट विवरण सहित सभी पॉडकास्ट सामग्री Real Estate Financial Planner LLC and James Orr and James Orr या उनके पॉडकास्ट प्लेटफ़ॉर्म पार्टनर द्वारा सीधे अपलोड और प्रदान की जाती है। यदि आपको लगता है कि कोई आपकी अनुमति के बिना आपके कॉपीराइट किए गए कार्य का उपयोग कर रहा है, तो आप यहां बताई गई प्रक्रिया का पालन कर सकते हैं https://hi.player.fm/legal।
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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