"PMI insurance, or Private Mortgage Insurance is a form of insurance that protects lenders from the default on a loan by a homeowner. This insurance is usually required on mortgages where a down payment of less than 20% of the loan is paid up front."
I hope that helps. I can email you several lenders names and numbers to help you
with a USDA loan with NO DOWN PAYMENT. I can also email you a list of homes
that are in bank foreclosure. Our office is open 7 days a week.
Regards, Denise Phillips
Century 21 American Prop.
Regards, Denise Phillips, Century 21 American Prop. 860 917 0778
Century 21 Champion Real Estate