| PMI |
Insurance against a loss by a lender in the event of default by a borrower. The insurance is similar to insurance by a governmental agency such as FHA or VA, except that it is issued by a private insurance company. The premium is paid by the borrower and is included in the mortgage payment.
Ãâó: www.prefmtg.com/terms.htm
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| PMI |
Private mortgage insurance.
Ãâó: alphaadv.net/jagranger/tigloss.html
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| PMI |
Private Mortgage Insurance; privately-owned companies that offer standard and special affordable mortgage insurance programs for qualified borrowers with down payments of less than 20% of a purchase price.
Ãâó: www.mortgagenewstoday.net/mortgage-glossary.html
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| PMI |
Required on virtually all conventional loans with less than 20% downpayment. Although the payments for PMI are included in your mortgage payment, it protects the lender should you default on the loan. On FHA loans, you will pay a MIP (Mortgage Insurance Premium) which accomplishes the same purpose.
Ãâó: www.nhliving.com/realestate/reglossary.shtml
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| PMI |
A policy that protects the lender by paying the costs of foreclosing on a house if the borrower stops paying the loan. Although PMI protects the lender, it is paid monthly by the borrower. Private mortgage insurance usually is required if the down payment is less than 20 percent of the sale price.
Ãâó: www.go-to-debt-consolidation.com/debt/glossaryP.as...
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