Private Mortgage Insurance Articles

What is Private Mortgage Insurance (PMI) ?
Home buyers who put less than 20% down, and are not utilizing a government insured loan program (such as FHA & VA), must obtain private mortgage insurance (PMI). . PMI is a set of premiums that protect lenders from losing money as a result of borrower default. While...

What Do I Need To Know About Private Mortgage Insurance?
Although PMI (mortgage insurance) may not be the most popular form of insurance for some homeowners, for many, it's a must.. Thousands of hopeful homeowners are unable to afford the hefty 20 percent down payment, making PMI a useful foot-in-the-door, allowing for home...

What is FHA MIP?
When taking out an FHA-insured loan, home buyers are required to pay a mandatory mortgage insurance premium (MIP). MIP protects the bank from taking a loss if a homeowner stops making their mortgage payments. It's insurance that gives the banks the ability...