Private Mortgage Insurance and Decreasing Term Mortgage life Insurance

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Private Mortgage Insurance

What is Private Mortgage Insurance

Private mortgage insurance (PMI) is a policy that protects lenders who make loans to individuals who want to buy or refinance a home, but are unable to come up with the required 20% down payment.

Private Mortgage Insurance Facts:

PMI plays a valuable role in expanding home ownership.

With PMI, families can purchase homes with as little as 3-to-5 percent down payment on a home.

Nearly 1 million people a year buy or refinance a home with PMI.

PMI cost home owners between $20 to $100 per month.

PMI can be canceled, under certain conditions, when a good payment history is met and 20% or more equity is achieved on the cost of the home.

Mortgage Life Insurance

If you were looking for information on mortgage life insurance click on the text and go to our decreasing term mortgage life insurance page.

InsBuyer.com your online mortgage life insurance experts.