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Hi, how to obtain a mortgage loan without paying PMI or private mortgage insurance.
That's going to be the topic of today's discussion. My name's Adriel Torres. I'm the owner of
ultimatecredittoday.com. Now in order to obtain a loan without PMI, you have to do one of
two things. One, you have to have the balance of the note or the loan amount, excuse me
the loan percentage, eighty percent or below. Any time it goes above eighty percent you
have to pay PMI, which is insurance on the loan. Or you can get a second mortgage from
a lender for the remaining ninety or ninety five percent. So you will have to come to
the table with at least five percent nowadays because the one hundred percent mortgages
don't exist anymore. So as long as you have your closing costs and your down money, you
can get the first loan from an A type lender and the second mortgage to cover the remaining
balance from another lender. And that's how you avoid paying PMI on a mortgage loan. Again,
my name's Adriel Torres and I'm the owner of ultimatecredittoday.com. Thank You.