Tag: <span>insurance</span>

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PRIVATE MORTGAGE INSURANCE, WHEN CAN I GET OUT?

A common question for those who have private mortgage insurance (“PMI”) is when can I stop paying it? When can I get out? If you recently obtained a FHA loan, unfortunately, you cannot get out of mortgage insurance as it stays with the loan for the life of the loan. However, if you have a conventional...

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PITIMI: WHAT IS IT?

The acronym PITIMI represents the components of the monthly mortgage payment. It is defined as follows: • P = Principal • I = Interest • T = Real estate taxes • I = Insurance • MI = Mortgage Insurance The principal is the amount paid against the borrowed funds per month. Interest is the amount...