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%.

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. What is mortgage insurance ( PMI / MIP) and how to request removal. The requirements to remove MIP are complex and ...

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. The requirements to remove MIP are complex and ...

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%. It can be called Private Mortgage Insurance (PMI) or Mortgage Insurance Premium (MIP).

You can review your current insurance coverage information at the site we just mentioned: www.mycoverageinfo.com/mrcooper. Note: The following Mortgagee Clause must appear on your insurance policy. If it’s not there, contact your insurer and let them know.

An escrow account is where funds are held to pay property tax and insurance bills on your behalf. If your loan is escrowed, a part of your mortgage payment goes into your escrow account every month. When will you analyze my escrow account?

Private Mortgage Insurance (PMI) For conventional loans, unless you have 20% equity in your home, a small portion of your monthly payment goes toward paying for PMI, which protects your lender in case a borrower defaults.

Removing PMI 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%. It can be called Private Mortgage Insurance (PMI) or Mortgage Insurance Premium (MIP).