Ok, your loan has been determined to be higher risk therefore you have to pay more. Why did we need to invent a second payment called PMI instead of just charging a higher rate to higher risk borrowers? Why do interest rates need to remain “reasonable” ?
Ok, your loan has been determined to be higher risk therefore you have to pay more. Why did we need to invent a second payment called PMI instead of just charging a higher rate to higher risk borrowers? Why do interest rates need to remain “reasonable” ?