Julia Morrell

Buying a house is stressful enough, but when you add in the unfamiliar lingo and mounds of paperwork, it can be overwhelming.

Property taxes, homeowners insurance, interest, HOA fees—when it comes to your monthly mortgage payment, your loan’s principal doesn’t lack company. Still, few of these additional costs and expenses draw as much ire from a homeowner than private mortgage insurance (PMI.) If you’re begrudgingly shelling out extra cash for a PMI premium, then private mortgage insurance needs no introduction.