Private Mortgage Insurance

Buying a home often involves navigating complex financial terms, and private mortgage insurance (PMI) is one of them. For many Canadian homebuyers, PMI adds significant costs to monthly payments. But what if there’s a way to secure a mortgage while minimizing this expense? This guide explores practical strategies to achieve that goal. PMI protects lenders if a borrower defaults on their loan. It...

Private mortgage insurance (PMI) can be a big financial weight for homeowners with smaller down payments. Knowing how to drop PMI can save you a lot of money each month. When you buy a home with less than 20% down, lenders often ask for PMI to protect their investment.Getting rid of PMI is not just a dream; it's something many homeowners can make happen. It takes careful planning, knowing your loan terms,...