Mortgage insurance protects the investor or noteholder if the borrower defaults on the loan. It lowers the investor’s risk when funding a home loan. In most cases, if you pay at least 20% down on your home, you’re not required to carry mortgage insurance.

Mortgage insurance protects the investor or noteholder if the borrower defaults on the loan. It lowers the investor’s risk when funding a home loan. In most cases, if you pay at least 20% down on your home, you’re not required to carry mortgage insurance. Mortgage insuranc...

You are required to have enough insurance to cover the lower of either the replacement cost of the home or the remaining principal balance on your loan.

What kind of assistance options are available if I cannot pay my mortgage? Your options may include refinancing, repayment plans, and loan modification. How can I get assistance if I cannot pay my mortgage? You can complete a mortgage assistance application online and let us ...

Mortgage insurance protects the investor or noteholder if the borrower defaults on the loan. It lowers the investor’s risk when funding a home loan. In most cases, if you pay at least 20% down on your home, you’re not required to carry mortgage insurance.

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.

Learn how much insurance you need to cover your home and loan, and which types of insurance are required or optional for your property. Find out how to pay for insurance through your escrow account and what to do if you live in a high-risk area.

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.

Learn how to update your mortgagee clause if your loan was transferred to Mr. Cooper and what to do with optional insurance products.

Some government-backed programs make it easier for borrowers with lower credit scores to qualify for mortgages. You may hear FHA loans mentioned. These are loans backed by the Federal Housing Administration. But there may be state or local programs available too that help borrowe...