What is PMI? And is it really worth it?

Description: Thinking about buying your first house but confused about Private Mortgage Insurance (PMI)? Join Ron Pero, The Loan Professor, in this informative video as he delves deep into the world of PMI. Ron explains what PMI is, why lenders require it for down payments less than 20%, and shares a helpful calculator to determine if it's a good deal for you. Discover the risks lenders face, how PMI protects them, and why it's a win-win for both lenders and borrowers. Ron breaks down scenarios, comparing down payments, loan amounts, and monthly payments, helping you make an informed decision on whether PMI is worth it for your homebuying journey. Don't miss Ron's free PMI calculator, linked in the video description. Get ready to navigate the world of PMI with confidence!

[judybasso-lese]

Your explanation of PMI and why the banks charge it made was very clear . This is helpful !