PMI means "Private Mortgage Insurance." This is an insurance policy that allows you to make a lower down payment by insuring the lender against loss if you fail to pay your mortgage. If you are buying or refinancing with less than 20% equity you will be required to pay PMI under most loan programs. Forte Financial has several special programs that can help to avoid PMI payment even if you pay less than 20% down. Please contact one of our loan originators for further details.