Unless you can put down 20% or more when buying a house in Atlanta, Private Mortgage Insurance (PMI) is part of the transaction. But what exactly is PMI?
This blog post does a great job of explaining PMI.
Is there a way to drop it? There is! If you think you may have 20% equity in your home at this point, feel free to give us call and we will pull comps to confirm. Then, you can call your bank and get the name of an approved appraiser who will come out and appraise your home (at your cost.) If the appraisal comes in showing that you do, in fact, have 20% equity, the bank will drop it!
For a free market analysis of your home, you can call us at 404-401-1460 or email us at firstname.lastname@example.org.
Also, if you are in the market to buy a home in the metro Atlanta area, give us a call as well. We would love to help!
If you need pre-approval from a lender, click here. They are the best in the business!