Private mortgage insurance

From Bogleheads
Revision as of 05:18, 21 August 2013 by Blbarnitz (talk | contribs) (Text replace - "==Links==" to "==External links==")
Jump to navigation Jump to search

Private mortgage insurance

Most lenders require PMI insurance 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.

- from Mortgage Smarts


External links

Definitions of private mortgage insurance on Google