NCJAR News
Note: Consumer guides do not constitute any change in NAR policy. Real estate professionals must ensure they market properties consistent with relevant MLS rules and educate sellers on the choices available.
Buying a home—especially your first—comes with lots of new terms and financial details to learn. One term that often causes confusion is private mortgage insurance (PMI). Let’s break down what it is, why it matters, and how it could impact your homebuying journey.
What Is PMI?
PMI is an insurance policy that protects the lender (not the buyer) in case you default on your loan. If you’re buying with a conventional mortgage and putting down less than 20%, your lender will likely require PMI.
How Does PMI Work?
Your lender arranges the PMI as part of your conventional loan. It’s usually provided by a private mortgage insurance company, and you’ll most often pay the premium as part of your monthly mortgage payment.
Other payment options may include:
- A one-time lump sum at closing.
- A combination of an upfront fee plus smaller monthly payments.
Connect. Learn. Lead.
Thursday, September 25, 2025
10:00 AM – 2:30 PM
County College of Morris
$35 Per Person
Hosted by NCJAR & the Metropolitan Builders and Contractors Association of New Jersey
The Real Estate Summit 2025 is the premier event where real estate professionals, policy influencers, and industry leaders come together to explore the evolving forces shaping housing and development in New Jersey.
This dynamic one-day summit is designed to inspire, inform, and connect. Attendees will gain valuable insights into the economic outlook, legislative priorities, capital markets, and the trends that will define the future of real estate. Whether you’re a broker, builder, lender, or industry advocate, this is your opportunity to connect, learn, and lead alongside the brightest minds in the business.
Event Schedule
Jeff Jones delivers weekly updates, highlighting NCJAR’s upcoming events. Members are reminded to review notices on bylaws, budgets, and committees for 2026. Exciting events are around the corner, including the NCJAR 2025 Annual Meeting with Jared James on Friday, September 12th, and a Networking Social at Granite Pizza on Wednesday, September 17th. Both events offer opportunities to connect, learn, and grow within the NCJAR community.
Please reach out to NCJAR for more information at
NCJAR® proudly awarded three recipients for our 2025 NCJAR® Scholarship!
Each year, our Scholarship Committee conducted a careful review of all applications, and it was not an easy task. The candidates were an exceptionally impressive group, demonstrating academic achievement, community service, and sincerity of purpose.
The NCJAR® Scholarship Fund is available to our members’ children, grandchildren, or relatives who are currently enrolled in or will be enrolling in an undergraduate programs or trade school. Members must have at least three years of NCJAR membership to qualify. Selection criteria include academic achievements, financial need, sincerity of purpose, and contributions to family, school, and community.
We are excited to announce the top three winners:
