Private mortgage insurance (PMI), a credit enhancement tool used to help consumers secure a lower down payment on a home purchase, has been helping homebuyers and the government-sponsored enterprises for 66 years, U.S. Mortgage Insurers (USMI) stated.
With higher interest rates, elevated home prices, and tight housing inventories, PMI offers some relief to those looking to buy a home in today’s market.
For details from the USMI report, read on.
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