Guests: Casey Oiness and Colin TippSummaryIn this conversation, Joe, Casey Oynes, and Colin Tip discuss Private Mortgage Insurance (PMI), its implications for homeowners, and the processes involved in removing it. They explore the differences between conventional and FHA loans, the importance of tracking mortgage insurance, and the refinancing options available to homeowners. The discussion emphasizes the need for homeowners to stay informed about their mortgage insurance status and the potential benefits of refinancing as market conditions change.TakeawaysPMI is a monthly payment for loans with less than 20% down payment.The amount of PMI decreases as the down payment increases.Homeowners can request PMI removal at 80% loan-to-value (LTV).Refinancing can be a way to remove PMI if equity has increased.FHA loans have different PMI rules compared to conventional loans.Tracking property values can help homeowners manage PMI effectively.Good credit scores can lead to lower PMI rates.Annual loan reviews can help clients stay informed about their mortgage status.Servicing loans directly can provide better long-term support for clients.Market conditions can influence the decision to refinance.Thank you for listening to RealTalk! Don’t forget to like and subscribe, and follow Joe on Instagram (@seattlesagent) for the latest videos. And don’t forget to check out The Seattle Experience with Joe Sheldon podcast on YouTube or your favorite podcast app. For more information about Joe, or to work with Joe, visit www.myseattlesearch.com.

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