Ask of you are getting refundable or non-refundable PMI. It will affect refinancing or paying off your loan while you have PMI insurance. If you have non-refundable, make sure you close your loan before the month end or you will be charged an entire month of PMI insurance.
If you payoff your loan by the fifth of the month instead by previous month end. Then you will pay your entire month of PMI insurance.
I hope this helps someone out there. The PMI company will not prorate my premium it cost me over $200 for nothing!!!!!... more