Assertion: mortgage's payment | /r/HasProperty | less than 20%
Facets:
value: to avoid paying private mortgage insurance
type: PURPOSE
Source sentences:
text: If your down payment is less than 20%, an escrow account is required.
text: But these loans have flexibility that conforming loans don’t have, such as not always requiring mortgage insurance when the down payment is less than 20 percent.
text: Conventional – PMI will be required when you either make a down payment of less than 20% of the value of the property, or your equity in a refinanced property is less than 20%.
text: Borrowers take out two loans when the down payment is less than 20% to avoid paying private mortgage insurance.
text: As a rule, most lenders require PMI for conventional mortgages with a down payment less than 20 percent.
text: Not only will you shell out the principle and mortgage, you’ll also owe property taxes and private mortgage insurance if your down payment is less than 20 percent.