20 JUN 2026
What Is PMI and How Do You Avoid It? A Complete Guide for 2026
Posted By: Jordan Hayes
Private mortgage insurance (PMI) is a monthly fee lenders charge when your down payment is below 20%. It protects the lender, not you — and it costs $50–$300/month. Here's exactly what PMI costs, when it can be cancelled, and five strategies to avoid it entirely.