Private Mortgage Insurance (PMI) or monthly Mortgage Insurance (MI) is probably the most frequently misunderstood aspect of real estate financing. Many believe that PMI/MI is a mortgage life insurance policy whereby the mortgage would be paid off should the borrower die.

Instead, PMI/MI is an insurance which lenders require of all borrowers who put less than 20% down payment on their house.

It's purpose is to protect the lender against losses should the borrower default.

Bottom line, to many of us, it is an additional cost which we need to factor into our monthly payment which has no true value.

Let the professional mortgage consultants at HB&O Funding Company illustrate how you can eliminate that debt.


"Thank you for helping us get our first home. We are so happy here. I've been enjoying making it our own place."

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