Difference between revisions of "Private mortgage insurance"

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==References==
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==External links==
 
==External links==

Revision as of 18:26, 23 January 2015

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

{{Reflist|30em}

External links

Definitions of private mortgage insurance on Google