Do lenders offer alternatives
to private mortgage insurance?
Some lenders offer another option for purchasing PMI. Under this program (generally referred to
as "premium pricing"), a premium is added to your interest rate and origination fee. This premium pricing
may benefit you because private mortgage insurance is not tax deductible and mortgage interest may be.
You should speak with your tax preparer or accountant for information and advice on this matter.
Another more popular method is by combining a first and second mortgage to satisfy the 20% required on your
first mortgage to avoid mortgage insurance.
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