How is private mortgage insurance determined?

Answer Private mortgage insurance (PMI) is a type of insurance policy that protects lenders in the event that a borrower defaults on a mortgage. PMI only reimburses the lender and offers no protection for... Read More »

Top Q&A For: How is private mortgage insurance determined

Why do I need private mortgage insurance?

Private mortgage insurance, or PMI, allows you to purchase a home with a smaller down payment because lenders are protected against you defaulting. Without PMI, most lenders require a 20 percent do... Read More »

How much is private mortgage insurance?

The private mortgage insurance rate charged per month is based on several factors, including your credit score, the amount of your loan and the location of the property. However, it is typically .5... Read More »

How is private mortgage insurance calculated?

Private mortgage insurance (PMI) is a policy that protects lenders against the risk of borrowers defaulting on their loans. The cost is paid for by the borrowers but protects the creditor.CostThe c... Read More »

How to Get a Loan Without Private Mortgage Insurance (PMI)?

For many individuals and families who are looking at purchasing a home, or any other real estate, private mortgage insurance (PMI) can be a major cost factor. This kind of insurance is expensive an... Read More »