Does PMI exist for rental properties???

[Scott Graham]

Can you get PMI insurance for a rental property?? Meaning - are there any banks out there that will do 90% LTV and the borrower is responsible to pay for PMI?

[Chris Mason]

Ya, once in a blue moon someone cares more about minimal down or CoC ROI than they do about finance charges, and we will do an 85% LTV SFR investment property. Flippers often do this when they stumble upon a house juuuuuuuuuuust good enough for traditional financing. IE: The kitchen is utterly gross and 65 years old, but technically it is a complete & functional kitchen with no glaring health/safety hazards, etc... "granny homes." Grandpa died 15 years ago, Grandma has been doing bare/below minimum maintenance since then because that stuff was always Grandpa's job. 

Or someone doing buy-and-hold but they need to keep the 5% in their pocket to upgrade some things. 

Either way though, the house sells or is shortly thereafter refinanced, so it's more "purchase" financing to get you in the door that's better than hard money, and not so much "permanent" financing.