If you’re a first-time homebuyer, you’ve likely started exploring the homebuying process and encountered a variety of terms, one of which might be PMI. But what exactly is PMI, and is it something you need? More importantly, is it worth it?
In this post, we’ll dive into the world of Private Mortgage Insurance (PMI), explaining what it is, why it might be necessary, and how you can determine if it’s a good deal for you. Let’s get started.