Ever wondered why you’re paying extra each month for something called “mortgage insurance”? You’re not the only one. Many homebuyers, whether they’re first-time homebuyers or not, are unclear about what it actually does. We’re here to break down mortgage insurance (including PMI and MIP) without the confusing jargon. By the end of this blog, you’ll understand exactly what this home loan insurance is, when you need it, and, most importantly, how to avoid paying for it longer than necessary. Sometimes…
