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If you’re buying a home and putting less than 20% down, chances are you’ve heard about PMI (Private Mortgage Insurance). But what exactly is it, how does it work, and when can you finally get rid of it? In this video, we break down everything you need to know about PMI so you can make smarter, more confident homebuying decisions.

PMI applies to conventional loans when your down payment is under 20%. While it adds an extra cost to your monthly mortgage, PMI isn’t always the bad guy—it can actually help you buy a home sooner instead of waiting years to save up. In this guide, you’ll learn:

What PMI is and why lenders require it.
How PMI is paid (monthly, upfront, or a mix).
How PMI affects your loan qualification and debt-to-income ratio.
Strategies to compare PMI with other loan options.
The rules for PMI removal (80% loan-to-value, 78% automatic removal, or halfway through the loan term).
How to plan an exit strategy to eliminate PMI faster.

By the end of this video, you’ll know how to factor PMI into your budget, avoid common mistakes, and create a clear plan to remove it as soon as possible. Whether you’re a first-time homebuyer or simply buying with less than 20% down, this guide is designed to empower you with clarity and confidence.

👉 Ready to run your numbers and get expert advice? Connect with a Mortgage Loan Expert here: https://www.homejourneyadvisor.com/pa...

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⏱️ Timestamps:
00:36 What is PMI?
01:35 How PMI Works
02:12 Comparing PMI to Other Loan Options
02:45 How PMI Affects Loan Qualification
03:17 When You Can Remove PMI
03:58 Key takeaways for Buyers

HELPFUL RESOURCES
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