Ask a Jumbo Genius – PMI
Is PMI always required on a Jumbo Loan with less than 20% down?
Yes, but the PMI insurance can be paid by the lender and absorbed into higher interest rate. This can be a benefit depending on your financial situation and overall payment goals. United Home Loans can help you determine the best way to finance PMI, but either way, you’re paying the premium if you have a down payment of less than 20%. For a custom quote, contact a Jumbo Genius below or call 708-531-8388.