PMI fees can be paid in many ways depending on the company used:
Borrowers can choose to pay the 1-years premium at closing, and then an annual renewal premium is collected monthly as part of the house payment.
Borrowers can choose to pay no premium at closing, but add on a slightly higher premium monthly to the principal, interest, tax, and insurance payment.
Borrowers who want to sidestep paying PMI at closing but don't want to increase their monthly house payment can finance a lump-sum PMI premium into their loan. Should the PMI be canceled before the loan term expires through refinancing, paying off the loan, or removal by the loan provider, the borrower may obtain the rebate of the premium.
"Excellent service from start to finish. There were no surprises during any phases of the process. Our questions were answered in a timely fashion and even closing was exactly as expected without a hitch. We couldn't ask for better experience!" Curtis F
"Keith Billings did an outstanding job on my home loan. I highly recommend Acquest lending! Keith was very knowledgeable about the lending process and helped to relieve my anxiety when we bought and sold homes." Jake S
"I just bought a house through Acquest Lending just this week. The whole process went so smoothly. Professionals all the way around. They led me through everything and it was an amazing experience." Lisa B
"I want to thank you sooooooooooo much for all your help and time you put into the refinance of my house. You are truly amazing! You had so much patience with me. You spend so much time and even stay in touch when I was on vacation. I'm very pleased with the loan and can't thank you enough." Erika F
"I was impressed and very happy with the service. They are knowledgeable and professional. I highly recommend this company." Sade A.