PMI Explained: Why You Pay It and How to Get Rid of It

Private mortgage insurance scares off a lot of buyers who could otherwise afford to buy sooner rather than later. In this video, Brandon Carus, mortgage loan officer with Cream City Mortgage (CCM), breaks down what PMI actually protects, why it drops in stages as your down payment increases, and the real difference between PMI on a conventional loan and MIP on an FHA loan (hint: one of them can last the life of the loan). Brandon also walks through the two main paths to getting PMI removed, including one strategy that can lower your rate and drop your PMI at the same time. Curious what your specific PMI number would actually look like? Reach out to Brandon directly and he'll run it for you.

Reach out to Brandon directly

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