Insurance by a private company to protect the mortgage investor against loss by default.

Private mortgage insurance, or PMI, allows you to buy a home even if you don’t have a 20 percent down payment.

See Mortgage Insurance.

When you buy a home with a down payment of less than 20% of the purchase price, your lender may require you to buy private mortgage insurance (PMI), which protects the lender against the risk that you may fail to repay your loan.The premiums you can expect to pay will vary, but typically come to about 0.5% of the total amount you borrow. For instan [..]

Insurance that reimburses a mortgage lender if the buyer defaults on the loan and the foreclosure sale price is less than the amount owed the lender (the mortgage plus the costs of the sale). A home b [..]

A form of mortgage insurance provided by private, non-government entities. Normally required when the LOAN TO VALUE RATIO is less that 20%.

Required by most lenders for conventional loans with a down payment of less than 20 percent. Insurance is paid by the borrower and guarantees the lender will not lose money if the borrower defaults.

Mortgage insurance that is provided by a private mortgage insurance company to protect lenders against loss if a borrower defaults. Most lenders generally require MI for a loan with a loan-to-value (LTV) percentage in excess of 80 percent.

Definition PMI. Mortgage insurance provided by nongovernment insurers that protects a lender against loss if the borrower defaults. Many lenders require a a borrower to purchase private mortgage insur [..]

insurance that a lender may require a borrower to purchase to cover losses in the event of default of a residential loan esp. when the borrower is giving the lender a mortgage on property in which ...

insurance purchased by a buyer to protect the lender in the event of default. The cost of mortgage insurance is usually added to the monthly payment. Mortgage insurance is generally maintained until . [..]

Insurance purchased by a buyer on a conventional loan when a down payment is less than 20 percent of the purchase price to protect the lender against default.

When the loan to value (LTV) is higher than 80% lenders will generally not be able to do the transaction. In these cases, the borrowers can get private mortgage insurance (PMI) which is a guarantee to [..]

Insurance offered by a private insurance company that protects the bank against loss on a defaulted mortgage up to the limit of the policy (usually 20 to 25 percent of the loan amount). PMI is usually [..]

Mortgage insurance provided by private mortgage insurance companies, or PMIs. See Mortgage Insurance

Insurance against default issued by a private company on conventional mortgage loans. Such insurance is usually required when the down payment is less than 20%.

See: mortgage insurance.

Insurance on the payment of a mortgage provided by a private firm at additional cost to the borrower to protect the lender.

It serves to protect lenders against defaults or losses from borrowers. Borrowers are required to carry Private Mortgage Insurance if their loan has loan-to-value higher than 80 percent. Depending on [..]

According to 12 USCS § 4901 (13), [Title 12. Banks and Banking; Chapter 49. Homeowners Protection] the term private mortgage insurance means “mortgage insurance other than mortgage insurance made avai [..]

A kind of insurance that protects the lender by paying the foreclosure costs if you, the borrower, stop paying the loan. Private mortgage insurance usually is required if the down payment is less than 20 percent of the sale price.

Insurance written by a private company protecting the mortgage lender against loss occasioned by a mortgage default.

A form of mortgage insurance provided by private, non-government entities. Normally required when the LOAN TO VALUE RATIO is less that 20%.

Insurance that protects the lender in case of default on a mortgage.

in the event that you do not have a 20 percent down payment, lenders will allow a smaller one - as low as 5 percent in some cases. With the smaller down payment loans, however, borrowers are usually required to carry private mortgage insurance. Private mortgage insurance will require an initial premium payment of 1.0 percent to 5.0 percent of your [..]

Insurance written by a private company that protects the mortgage lender against a potential loss incurred by a mortgage default.

See   Mortgage guarantee insurance

A type of insurance required by mortgage lenders when buying a home if the home buyer put down less than 20% of the home’s value. The charges for this are included with the mortgage payment, and can b [..]

See Mortgage guarantee insurance

Private mortgage insurance protects the lender against the default of higher risk loans. Most lenders require private mortgage insurance on loans where the loan-to-value ratio is higher than 80% (less than 20% equity).

Insurance against loss by a lender in the event of default by a borrower (mortgagor). Issued by a private insurance company. The premium is paid by the borrower and included in the mortgage payment.

A policy that guarantees payment of a conventional mortgage loan in case of default. Usually required if your down payment is less than 20 percent of the home's price.

Insurance provided by non-government insurers that protects lenders against loss if a borrower defaults on a mortgage loan. Mortgage insurance is typically required for loans with loan-to-value (LTV) percentages greater than 80 percent.

Also known as PMI. Nongovernment provided insurance that protects lenders against loss if a borrower defaults. Fannie Mae generally requires private mortgage insurance for loans with loan-to-value (LT [..]

On most mortgages, borrowers who can't put down 20 percent of the loan amount are required to pay insurance. It protects lenders against borrowers who default and also helps borrowers who can [..]

Mortgage insurance provided by a private mortgage insurance company to protect lenders against loss if a borrower defaults. Most lenders generally require MI for a loan with a loan-to-value (LTV) perc [..]

Mortgage insurance provided by a private mortgage insurance company to protect lenders against loss if a borrower defaults. Most lenders generally require MI for a loan with a loan-to-value (LTV) percentage in excess of 80 percent.

In the event that you do not have a 20 percent down payment, lenders will allow a smaller down payment-as low as 3 percent in some cases. With the smaller down payment loans, however, borrowers are us [..]

Insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's [..]

Mortgage insurance that is provided by a private mortgage insurance company to protect lenders against loss if a borrower defaults. Most lenders generally require PMI for a loan with a loan-to-value (LTV) percentage in excess of 80 %.

In the event that the borrower does not have a twenty percent (20%) down payment, lenders will allow a smaller down payment, sometimes as low as 5 percent. With the smaller down payment loans, however, borrowers are usually required to carry private mortgage insurance. Private mortgage insurance will require an initial premium payment of 1.0 percen [..]

Policy protecting the holder against loss resulting from default on a mortgage loan.