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DuPage Credit Union contracts with companies not affiliated with DuPage Credit Union to offer their products and services to members. When you purchase a product or service from one of these companies, that company is responsible for protecting your data and its processes and procedures may differ from those of DuPage Credit Union. These companies have sole financial responsibility for their products and services. The trademarks, logos and names of other companies, products and services are the property of their respective owners.

Will I need to pay private mortgage insurance?

 

If your down payment is less than 20% of your home’s purchase price, you will need to pay Private Mortgage Insurance (often called PMI), generally as part of your mortgage payment each month. Unlike the mortgage insurance premium paid monthly over the life of many government-insured loans, you may be eligible to cancel PMI after you reach 20% equity in your home — which could save you money over time.

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