It can be called Private Mortgage Insurance (PMI) or Mortgage Insurance Premium (MIP). What is mortgage insurance? 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%.

Private Mortgage Insurance (PMI) PMI protects the lender against default. It’s generally required when the down payment is less than 20%. It’s usually included as part of the monthly payment, but in some cases you can pay it upfront as a part of closing costs.

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. Homeowners with PMI often have a variety of options for paying the premiums.

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.

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. Homeowners with PMI often have a variety of options for paying the premiums.

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.

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).

It can be called Private Mortgage Insurance (PMI) or Mortgage Insurance Premium (MIP). What is mortgage insurance? 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%.

Private Mortgage Insurance (PMI) PMI protects the lender against default. It’s generally required when the down payment is less than 20%. It’s usually included as part of the monthly payment, but in some cases you can pay it upfront as a part of closing costs.

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