What Is PMI? Private Mortgage Insurance, Albuquerque Real Estate You found the right place is you want to understand what is PMI or Private Mortgage Insurance.  There are many types of mortgage products on the market at any one time.  In Albuquerque there are mortgage products that allow you to purchase a home with as little as $500 down payment.  FHA or Federal Housing Administration allows home buyers to purchase a home for 3.5% down payment. Lenders are concerned about whether or not they will be paid back when they make a mortgage to a home buyer.  PMI or Private Mortgage Insurance is a … Continue reading...