Difference between revisions of "Private mortgage insurance"

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[http://www.google.com/search?hl=en&q=define%3Aprivate+mortgage+insurance&btnG=Search Definitions of private mortgage insurance on Google]
 
[http://www.google.com/search?hl=en&q=define%3Aprivate+mortgage+insurance&btnG=Search Definitions of private mortgage insurance on Google]
  
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Revision as of 21:39, 3 November 2013

Most lenders require private mortgage insurance (PMI) for loans that exceed 80% of the home’s value. The insurance protects the lender, but the borrower pays a premium of .5% to 1% up front and a monthly charge. This insurance allows the borrower to obtain loans for which they would not ordinarily qualify. [1]

References

External links

Definitions of private mortgage insurance on Google