📋 Important PMI Information

• PMI is required when your down payment is less than 20% of the home's value
• Conventional loans: PMI can be removed when you reach 20% equity (80% LTV)
• FHA loans: MIP (similar to PMI) may be required for the life of the loan
• VA loans: No PMI required, but there's a funding fee
• PMI rates typically range from 0.2% to 2.0% of the loan amount annually
• Credit score impacts PMI rates - higher scores get lower rates