How is Private Mortgage Insurance Paid?

PMI fees can be paid in many ways depending on the company used:

  • Borrowers can choose to pay the 1-years premium at closing, and then an annual renewal premium is collected monthly as part of the house payment.
  • Borrowers can choose to pay no premium at closing, but add on a slightly higher premium monthly to the principal, interest, tax, and insurance payment.
  • Borrowers who want to sidestep paying PMI at closing but don't want to increase their monthly house payment can finance a lump-sum PMI premium into their loan. Should the PMI be canceled before the loan term expires through refinancing, paying off the loan, or removal by the loan provider, the borrower may obtain the rebate of the premium.

About Us

We've been assisting our clients afford the home of their dreams for many years and we love what we do. Give us a shout...you'll understand why!! 

Licensed in : CA, NV, UT

Nevada License: 25855 
Company Nevada License: 2647 

Company NMLS: 322341
Individual NMLS: 307439
www.nmlsconsumeraccess.org

Contact Us

3571 E. Sunset Road
Las Vegas, NV 89120
Phone: (702) 419-5101
timothy.klinger@gmail.com
tim@citizens-choice.com

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