We are asked how to drop the Mortgage Insurance on your loan. Mortgage Insurance also known as MI or PMI (Private Mortgage Insurance) is part of your monthly mortgage payment. Mortgage Insurance is required when putting less than 20% down payment on a home. It can be costly and will add $100 plus to your loan payment (depends on loan amount). Mortgage Insurance is to protect the lender in case you default on your home loan.

Below are explanations on how to or when MI will be removed from your monthly mortgage payment.

Dropping Conventional Mortgage Insurance Rules

  • Automatic Termination
    • Fixed Rate & Adjustable - Removed when reduced to 78% LTV
      • LTV based upon ORIGINAL VALUE
      • Based SOLEY on regular amortization (not prepayment …

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The Albuquerque Public Library is offering a 7 week summer reading program from June 1st - July 20th. Anyone canSummer Reading Albuquerque join, including adults. There are free programs and workshops all summer long. You can sign up at any library by visiting the summer reading desk and filling out the registration form. Kids will receive a reading log, bookmark and a schedule of summer activities. Teens and adults will recieve a reading card.

Prizes can be earend and drawings will be held weekly. Summer reading is important for children during the summer as it will help them maintain their reading skills.

Visit The Dream Big: Summer Reading Program

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