If you’re borrowing from a lender to buy a house for sale in Charlotte, NC (or anywhere else in the U.S., for that matter), but you don’t have a 20 percent down payment to put toward the home, you’ll most likely have to pay for private mortgage insurance, or PMI. But what is PMI, and how much is it going to cost you? What is Private Mortgage Insurance? Private mortgage insurance, which is commonly called PMI, is a form of insurance that protects your lender. Lenders may think you’re a … Continue reading...