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logo
  • Home
  • Home Purchase
  • Refinance
  • Resources
  • Loan Programs
  • Loan Process
  • Mortgage Basics
  • Mortgage Calculators
  • Online Forms
  • FAQ
  • About
  • Blog
  • Videos
  • Testimonials
  • Contact
  • Apply Now
  • Team Members
  • 952-544-1706

How is Private Mortgage Insurance Paid?

PMI fees can be paid in many ways depending on the company used:

  • Borrowers can choose to pay the 1-years premium at closing, and then an annual renewal premium is collected monthly as part of the house payment.
  • Borrowers can choose to pay no premium at closing, but add on a slightly higher premium monthly to the principal, interest, tax, and insurance payment.
  • Borrowers who want to sidestep paying PMI at closing but don't want to increase their monthly house payment can finance a lump-sum PMI premium into their loan. Should the PMI be canceled before the loan term expires through refinancing, paying off the loan, or removal by the loan provider, the borrower may obtain the rebate of the premium.

Mortgage Calculator

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About Us

Expertise and mastery in providing purchase and refinance mortgages for residential property. Satori Mortgage offers wholesale pricing which, provides a lower overall total cost than bank or retail offerings. Additionally, our product portfolio is strengthened by an array of nationwide mortgage lenders. This allows our loan officers to provide each borrower with more solutions.

Company NMLS: 4190
www.nmlsconsumeraccess.org

Contact Us

2808 W Broadway Ave
Minneapolis, MN 55411
Phone: 952-544-1706
info@satorimortgage.com

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