United Home Loans FAQs

Q: Will I have to pay for Private Mortgage Insurance?

Private Mortgage Insurance (PMI) provides your lender with a way to recoup its investment if you are unable to repay your loan.  PMI is usually required when the mortgage amount is higher than 80% of the home's value.  That means that if you buy a home with a down payment of less than 20%, you will probably have to pay for PMI.  One common way of bypassing PMI without making any down payment at all is to use an 80/20 program, which combines a first mortgage with home equity financing. 

Learn about the 80/20 loan from United Home Loans

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