Posts in category 'First Time Homebuyers'
Subscribe and receive email notifications of new blog posts.
RSS Feed
-
2026 | 40 Posts
- September |
-
August |
- - The Little Repairs Buyers Always Notice Before Making an Offer
- - Buying a Home Isn't Just About the House: What to Look for in a Neighborhood Before You Buy
- - Thinking About Selling This Fall? What Capital District Homeowners Should Be Doing Right Now
- - Before Fall Arrives: What Capital District Homeowners Should Check Around Their Homes Now
-
July |
- - Is Your Home Showing Its Age? Home Trends That May Be Dating Your Space—and Simple Ways to Refresh It
- - Living in the Capital District of New York: Your Guide to the Region's Best Communities
- - Why Your Home's First Impression Starts Online: Preparing for Today's Digital Buyers
- - The Hidden Value of Local Knowledge: Why Choosing a Local Real Estate Broker Still Matters in 2026
- - Should You Renovate Before Selling? Smart Updates That Can Help Your Home Stand Out
- June |
-
May |
- - Cómo Obtener el Mejor Precio al Comprar una Casa en la Región Capital de Nueva York
- - How to Get the Best Deal When Buying a Home in New York's Capital Region
- - First-Time Buyer Guide: Understanding PMI and How It Affects Your Mortgage
- - FHA vs. Conventional Loans: Understanding Your Mortgage Options
- - Everything You Need to Know About Credit Scores
-
April |
- - New York Housing Market 2026: Key Trends Buyers and Sellers Need to Know
- - What Every Homeowner Should Know About Today's Real Estate Market in the Capital District, NY
- - Renovation ROI: Smart Upgrades That Add Value
- - Leasing Velocity in 2026: The Hidden Risk Impacting Multifamily Returns
- - Is a Fixer-Upper Worth It? What Buyers Should Really Know
-
March |
- - Understanding Capital District Market Trends: Business Insights for Albany, Schenectady, Troy & Saratoga Springs
- - What Homeowners Should Know About Mortgage Forbearance
- - Airport Chaos & Rising Costs: What Today's Shutdown Means for Business and Real Estate
- - Why the BP Refinery Lockout Could Impact Every American
- February |
-
January |
- - Top Home Design Trends for 2026: What to Expect in Real Estate
- - Decorating Small Spaces: How to Make Compact Homes Feel Open and Inviting
- - How Much Is Your Saratoga Home Worth in 2026?
- - Capital Region NY Real Estate Market: Albany, Saratoga, Schenectady, Troy & Cohoes
- - My Realistic Morning Routine for a Productive Day
- 2025 | 15 Posts
13
First-Time Buyer Guide: Understanding PMI and How It Affects Your Mortgage
Buying your first home is exciting, but it also comes with financial terms that can feel overwhelming. One of the most common costs many buyers encounter is Private Mortgage Insurance, commonly known as PMI. If you're purchasing a home with a smaller down payment, understanding PMI can help you budget wisely and avoid surprises during the mortgage process.
What Is PMI?
Private Mortgage Insurance is coverage that protects the mortgage lender if a borrower is unable to repay their home loan. PMI is usually required when a buyer puts down less than 20% of the home's purchase price.
Lenders see loans with smaller down payments as higher risk. PMI reduces that risk and allows more buyers to qualify for financing, even if they don't have a large amount saved for a down payment.
Important to Know: PMI Protects the Lender
A common misunderstanding is that PMI protects the homeowner. In reality, PMI only protects the lender. If a borro...