Mortgage Insurance Cancellation: The Myths and Realities

When it comes to private mortgage insurance (MI), there are several myths that exist that make buyers reluctant to consider a conventional loan with MI as an option when purchasing a home. One of the more common misconceptions is that cancelling MI is a difficult—not to mention time-consuming—process.  By understanding these rules and what they mean for homeowners, real estate agents can educate their buyers to help them better evaluate all of their home financing options based on facts rather than myths.