It can be called Private Mortgage Insurance (PMI) or Mortgage Insurance Premium (MIP). What is mortgage insurance? If you’re required to carry PMI, we’ll cancel it automatically on the date your loan-to-value (LTV) ratio is scheduled to reach 78%.

If you put down less than 20% on a conventional loan, you may need to carry private mortgage insurance, also known as PMI. Lenders require PMI as protection against default.

Private mortgage insurance (PMI) protects your loan’s investor (the entity that owns the loan) in case a borrower defaults. Lenders may require private mortgage insurance if your down payment is less than 20% of the loan amount.

Private mortgage insurance (PMI) protects your loan’s investor (the entity that owns the loan) in case a borrower defaults. Lenders may require private mortgage insurance if your down payment is less than 20% of the loan amount.

If you put down less than 20% on a conventional loan, you may need to carry private mortgage insurance, also known as PMI. Lenders require PMI as protection against default.

Depending on the type of insurance, you will need enough to cover the lower of either the replacement cost of the property or the remaining principal balance on your loan.

If you put down less than 20% on a conventional loan, you may need to carry private mortgage insurance, also known as PMI. What is mortgage insurance ( PMI / MIP) and how to request removal.

If you put down less than 20% on a conventional loan, you may need to carry private mortgage insurance, also known as PMI. Lenders require PMI as protection against default.

If you put down less than 20% on a conventional loan, you may need to carry private mortgage insurance, also known as PMI. What is mortgage insurance ( PMI / MIP) and how to request removal.

Privatemortgageinsurance (PMI) protects your loan’s investor (the entity that owns the loan) in case a borrower defaults. Lenders may require private mortgage insurance if your down payment is less than 20% of the loan amount.