Private Mortgage Insurance (PMI)

• What is Private Mortgage Insurance (PMI)?
• How Does Private Mortgage Insurance (PMI) Work?
• Could Obtaining Private Mortgage Insurance (PMI) Help Me Qualify for a Larger Loan?
• How Much Does Private Mortgage Insurance (PMI) Cost?
• How is Private Mortgage Insurance Paid?
• How Does the Buyer Apply for PMI?
• What is the History of Private Mortgage Insurance (PMI)?
• Cancellation of Private Mortgage Insurance (PMI)
• PMI Companies (Names & Addresses)

Do you think no PMI loans are cheaper?  It might seem like it at first, but think again!  When rates are the same or headed down, the no PMI loan is a bad idea.  This is a big decision to make based on many factors:

Do you expect to live there for less than three years? 

Do you expect mortgage rates to go down?

Do you expect your home value to increase?

Do you expect your credit scores to improve? 

If the answers to any of these questions is "yes" then you should compare programs pros ad cons because the No PMI loan may not be right for you. First Portland Mortgage offers "Low Down Payment - NO PMI Loans" as well as loans with PMI.  We can help you figure this out.