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Last week I read an article in a real estate publication quoting a Zillow survey stating that 41% of home buyers believe that everyone has to purchase private mortgage insurance, also known as PMI.

It ain’t so.

If you have 20% to put down (your down payment), and it’s a regular or conventional loan (not FHA), you do not need this added monthly cost.

If you’re purchasing with FHA backed financing, there’s mortgage insurance built into the product.





  • Silicon Valley Realtor, selling homes in Los Gatos, Saratoga, San Jose, Silicon Valley, and nearby since 1993. Prolific blogger with a network of sites.