The Real Estate Encyclopedia
Private Mortgage Insurance
Category - Real Estate Glossary - Real Estate Terminology

Private Mortgage Insurance (PMI) is a type of mortgage insurance available to conventional lenders on the first, high risk portion of a loan guarantying payment. It is basically insurance against a loss bya lender due to the default from a borrower and is usally required when the down payment is less than 20% of the loan amount.

 

 

 
Category(s)
Real Estate Glossary - Real Estate Terminology
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