Do You Need 20% Down To Buy A Home?
PennyMac
SEPTEMBER 9, 2020
Conventional loans, the most common mortgage type, require Private Mortgage Insurance (PMI) with a down payment of less than 20%. However your PMI can be removed (by request) once you’ve hit a 78% loan-to-value ratio in some cases. Check with your Human Resources department to see if this is a benefit that is offered.
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