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Private Mortgage Insurance (PMI)

When looking to buy a home most mortgage lenders will lend 80% percent of the purchase price, the other 20% is from you or a Private Mortgage Insurance (PMI) company. Let's say you only have 10% to put down this is where PMI plays a role. A PMI company will give the lender the other 10% and charge you a small monthly fee. PMI is not a permanent cost, when you have 20% equity in your home most lenders will remove your PMI. To have your PMI removed you may need an appraisal done as proof of the value of your home. This gives the home buyer an opportunity to purchase a home with less than 20% down.

 

You don't have to spent a lot of money to get your home in shape to sell!

If closet or bedroom doors don't close easily, leave them ajar when showing the house so people won't struggle with them.

Put clothes and papers away, leaving counter space free of odds and ends. Clutter is unappealing to potential buyers.

A staircase in a house; Size=240 pixels wide

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