That's "Private Mortgage Insurance".

Did you get a conventional mortgage for greater than 80% of the home's value? If so, you may be paying for PMI every month as part of your mortgage payment. This insurance benefits your lender. It is designed to protect the lender from the increased risk of a high ratio loan. If you have paid down your principle or your home has increased in value, you may be able to remove PMI. Typically, your lender will need an appraisal to confirm your eligibility to remove PMI. To learn more call us at (702) 805-0266.