In observance of Memorial Day we will be closed on Monday, May 27. We'll reopen on Tuesday, May 28.

What is mortgage insurance?

Private Mortgage Insurance (PMI) is a type of insurance you may be required to pay when you take out a home loan and make a down payment less than 20%. The insurance protects the lender for at least some of the shortfall if the home is sold in foreclosure for less than the outstanding amount of the mortgage.

Category: Home Loans