Take a moment and look at your mortgage statement. If you see a fee for PMI, you are paying a Private Mortgage Insurance monthly.

Who Pays Private Mortgage Insurance Fees?

Robert Palmer recently discussed PMI on Saving Thousands. “Whenever you put less than 20% down, or if you get an FHA or USDA home loan, then it wont matter how much you put down. You pay this other fee.” He continued by stating,”everybody pays interest, but some people pay this second charge, PMI (Private Mortgage Insurance) or MIP (Mortgage Insurance Premium). It is a big waste of money on your payment every month.

PMI can cost homeowners over $200 dollars a month. This extra fee can definitely put a strain on your finances.

But, Robert explains how you can eliminate this fee and save money: “Most people are are able to refinance their home loan, eliminate the PMI and save hundreds of dollars a month.”

How Can You Eliminate PMI Fees?

“If you still have your old FHA loan, you are paying the ridiculously expensive mortgage insurance. If thats the case, you need to call us because we need to figure out a way to refinance you either into a new FHA loan, or better yet, which is more likely, because home values have gone up so much, you can refinance into a conventional loan, and you can eliminate the PMI completely. And you can do it without paying a dime in closing costs, because I am going to pay them all.”

You don’t have to be stuck paying a PMI fee every month. Take action today.

Listen to financial expert Robert Palmer discuss PMI here: