PMI - Quick Facts

PMI- Private Mortgage Insurance

•· PMI based credit score

•· All transactions as of March 9 will require 2 months of PITI at closing

•· 2^nd Homes not eligible, Manufactured Homes not eligible

•· 20% or below on down payment incurs PMI

•· All PMI companies have Restricted Markets- min. 700 credit score

•· www.mgic.com has PMI zip code finder

•· Not always accurate as there may be pockets of decline within a town

•· April 6 -- PMI rate will change