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The homebuying world is full of complicated words, confusing terms, and acronyms. If you have never bought a home before, all these words and acronyms can be a little overwhelming and very confusing. While there are more terms than what we’ve included, our team at LamCap Partners explains some frequently used terms in the home-buying world below. PMI (Personal Mortgage Insurance) Personal mortgage insurance is a type of insurance that you may be required to purchase if you have a conventional loan. It is usually required when your down payment is less than 20% of the purchas...
December 1st, 2020 | home buying, home buying lingo, loan lingo, Helpful Home-Buying Lingo