VA borrowers have many advantages when it comes to buying a house. One of them is that they don’t have to pay private mortgage insurance (PMI. Usually, if you put down less than 20% for a down payment, you need to pay PMI, which is usually between 0.5% and 1% of the loan amount. But even if you put nothing down as a down payment with a VA mortgage, you won’t have to pay PMI.
Home > Buying Process > Is private mortgage insurance required if I put down less than 20% on a VA loan?
Share with friends
|Next >>||What does a good faith estimate mean? »|
About The Author
Laura Agadoni is a landlord and journalist whose articles appear in various publications such as Trulia and The Houston Chronicle.