Private Mortgage Insurance. Insurance which protects a lenders against loss in the event that the borrower defaults.
Private mortgage insurance. Mortgage insurance used to protect lenders against loss if a borrower defaults on the loan. Most lenders require PMI for loans exceeding 80% of the home's property.
Insurance the borrower carries to guarantee the lender is paid off if the borrower fails to pay. Generally required for all mortgages with down payments less than 20%.
Private medical insurance. This cover aims to meet the cost of having medical treatment performed privately.
Insurance paid for by the borrower that protects the lender in case of default. It's generally only required for a property with less than 80% LTV.
Insurance that protects the investor in the event the borrower defaults on the mortgage loan. PMI is required on all loans (except rural) when the down payment is less than 20%. On Rural loans PMI is only required when the down payment is less than 10%.
Insurance which guarantees the lender payment of the balance of the loan not covered by the sale of the property in the event of foreclosure. PMI is normally required on conventional loans and will be included as part of your monthly payment. PMI is normally required on conventional loans with a loan amount greater than 80% of Value.
This insurance policy covers the cost of in-patient medical care.
Acronym for rivate ortgage nsurance. 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.
Insurance protecting the mortgage lender from risks associated with lending on property where the loan-to-value ration is greater than 80%.
(See Mortgage Insurance.)
Insurance from a private corporation to protect the lender in case of a borrower's default and foreclosure. This insurance is typically required on loans greater than 80% of the subject's value.
Private Mortgage Insurance. Insurance that protects the lender in case a borrower defaults on a mortgage. The smaller the down payment, the more likely the homebuyer is to default on a loan. If your down payment is less than 20% of the home's purchase price, PMI is usually required.
Private Mortgage Insurance. Insurance similar to FHA or VA insurance, insuring part of the first mortgage or deed of trust, enabling a lender to make a conventional loan at a higher percentage of the property value.
Insurance written by a private mortgage insurance company to protect the lender against losses caused by mortgage default. This is commonly required on loan transactions involving less than a 20% down payment or equity position.
private mortgage insurance. Insurance provided by non-government insurers that protects the lender against loss if a borrower does not repay their loan.
Abbreviation for private mortgage insurance: insurance issued by a company, which insures the lender against loss in the event that the borrower defaults on the mortgage.
Private Mortgage Insurance. Insurance which covers the portion of a mortgage loan above 80% thereby reducing the lenders risk to principal loss in the event of a borrowers default. The insurance coverage allows lenders to make higher loan-to-value ratios (95% LTV).
Private Mortgage Insurance. See Mortgage Guaranty Insurance.
Private Mortgage Insurance. Insures repayment of the loan balance to the lender in the event of default by the borrower. The insurance is similar to insurance issued by a government agency (such as FHA) except it is issued by a private company. Usually required for homes financed with less than a 20 percent down payment.
Private Mortgage Insurance. Rescind Recording Fees
PMI (Private mortgage insurance) is paid by a borrower to protect the lender in case the borrower defaults on the loan. PMI is required when the down payment is less than 20% of the property's market value.
Private Mortgage Insurance. Insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if the first mortgage does not exceed 80% of the home's purchase price. (Note, however, that FHA and VA loans have different insurance guidelines.) No terms.
Private Mortgage Insurance. Insurance that home buyers are typically required to buy if their down payment is low that protects an institution against loss up to policy limits on a defaulted mortgage loan.
Private Mortgage Insurance. Insurance provided by a private company and paid by the borrower to the lender to protect the top 20 percent of a loan.
Private mortgage insurance. Insurance written by an independent mortgage insurance company protecting the mortgage lender against loss incurred by a mortgage default. This insurance is commonly required on conventional mortgages with less than a 20% down payment.
Private Mortgage Insurance. Policy protecting the holder against loss resulting from default on a mortgage loan.
Private Mortgage Insurance. In the event that you do not have a 20 percent down payment, lenders will allow a smaller down payment - as low as 5 percent in some cases. With the smaller down payment loans, however, borrowers are usually required to carry private mortgage insurance. Real Estate Settlement Procedures Act (RESPA) RESPA is a federal law that allows consumers to review information on known or estimated settlement costs once after application and once prior to or at settlement. The law requires lenders to furnish information after application only.
Private Mortgage Insurance. Insurance that protects the lender form loss if you stop making payments. You may not be required to pay mortgage insurance if your down payment is more than 20 percent of your home. Check with your lender to see how your PMI can be waived.
Required generally on all conventional loans unless a 20% down payment is made. These payments for PMI are made a part of the mortgage payment and they are protection for the lender should the mortgagee default on the loan. On FHA loans, this is called a MIP (Mortgage Insurance Premium) which is virtually the same thing.
Private Mortgage Insurance. This may be required by your Lender if the loan does not meet the normal standards of the Lender. The most common reason for this is a smaller down payment made by the borrower than the Lender usually requires. This insurance protects the Lender from a loss if the borrower defaults. It does NOT protect the borrower, though it may allow the Borrower to qualify for the loan. The borrower pays the cost for PMI.)
Private mortgage insurance. Insurance written by non-government insurers that protect lenders resulting from a mortgage default.
Private Mortgage Insurance, which protects the lender in case of default by the borrower. PMI is often used to allow buyers to obtain financing with less than a 20% down payment.
Private Mortgage Insurance. Mortgage insurance provided by non-government insurers that protects lenders against loss if a borrower defaults. Most lenders generally require PMI for loans with a loan-to-value ratio of over 80 percent.
Private Mortgage Insurance. Insurance for conventional mortgage loans that protects the lender from loss in the event of default by the borrower.
Private Mortgage Insurance. In the event that you do not have a 20 percent down payments, lenders will allow a smaller down payment-as low as 5 percent in some cases. With the smaller down... read full article
PMI is insurance that lenders charge when the primary loan balance on a home purchase is greater than 80% of the home's value. The PMI payment usually starts at 0.5% of the loan balance, and then decreases in following years. The requirements on dropping PMI vary slightly depending on where you live and when you bought your home, but, in general, when your loan-to-value ratio reaches about 80%, you can drop PMI. People often try to avoid PMI by taking out second mortgages (see 80/10/10 loans, 80/15/5 loans). Find out more about dropping PMI.
Insurance coverage purchased to protect lender from non-payment of the loan.
Private Mortgage Insurance. Mortgage insurance paid for by the borrower that SONYMA requires for all loans where the Loan to Value exceeds 80%. PMI protects the Participating Lender and SONYMA in the event of a loss resulting from borrower default.
Stands for Private Mortgage Insurance. PMI is an insurance policy the borrower buys to protect the lender from non-payment of the loan. PMI policies are usually required if you make a down payment that is below 20% of the sales price of the home.
Private Mortgage Insurance. Private Mortgage Insurance (PMI) is the insurance a borrower is required to pay if they have less than 20% (in some cases 25%) equity in their home. PMI protects the lender against default. It does not protect the borrower.
Private Mortgage Insurance. In the event that you do not have a 20 percent down payment, you may be required to carry private mortgage insurance. The lower the down payment, the higher the premium.
Private mortgage insurance. Protection for lenders against borrower default. Paid for by the borrower and usually required when the down payment is less than 20% of the purchase price.
Private Mortgage Insurance. Insurance provided by non-government insurers that protects lenders against loss if a borrower defaults. Usually required with less than 20% down payment.
Private Mortgage Insurance. For loans over 80% loan-to-value. Lenders will loan up to 95% in some cases. With the higher LTV loans, borrowers are required to carry private mortgage insurance, which requires an initial premium and may require an additional monthly fee depending on your loan's structure.
Private Mortgage Insurance. A contract that insures the lender against loss caused by a borrower's default on a mortgage. Generally, if a borrower's down payment is less that 20 percent of the purchase price of the house, mortgage insurance will be required.
Private Mortgage Insurance. 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 percent to 5.0 percent of your mortgage amount and may require an additional monthly fee depending on your loan's structure. As an example, a $75,000 house with a ten percent (10%) down payment would require either an initial premium payment of $2,025 to $3,375, or an initial premium of $675 to $1,130 combined with a monthly payment of $25 to $30.
PRIVATE MORTGAGE INSURANCE. Insurance written by a private company to protect the lender against loss caused by mortgage default.
Private Mortgage Insurance. May be required by your lender if the loan you apply for cannot be granted because the loan does not meet the normal standards for the lender. The most common reason for this monthly fee is a down payment smaller than 20%. This insurance protects the lender from loss if the borrower defaults. It does not protect the borrower, though it may allow the borrower to qualify for a loan he/she could not otherwise get. This insurance will require an initial premium payment of .5% to 2% of your mortgage amount plus an additional monthly fee, depending on your loan structure.
See Private Mortgage Insurance.
Private Mortgage Insurance. Insurance that protects lenders if a borrower defaults on his loan. It is required when a borrower puts less than a 20 percent down payment on a home.
Private Mortgage Insurance. Insurance against a loss by a lender, due to a default in payments from a borrower. This is often required when a buyer is paying a small down payment (less than 20% of the appraised value of the secured property)
Private Mortgage Insurance. Insurance to protect the lender in case you, as the borrower, 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 purchase price. Although PMI protects the lender, it is paid monthly by the borrower.
Private Mortgage Insurance. Covers losses a lender may incur in the event a mortgage loan becomes default. Typically homes financed with less than 20% down payment may require PMI.
A form of insurance required by a lender when the borrower's down payment or home equity percentage is less than 20 percent of the home value. This insurance partially protects the lender if the borrower defaults on the loan.
Private mortgage insurance. 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.
Private Mortgage Insurance. Insurance written by a private company protecting the lender against a loss resulting from a mortgage default. Generally, lenders require PMI when the loan-to-value is 80% or greater.
private mortgage insurance. Insurance provided by nongovernment insurers that protects lenders against loss if a borrower defaults. Fannie Mae generally requires private mortgage insurance for loans with loan-to-value (LTV) percentages greater than 80%.
Private Mortgage Insurance. Paid on loans that are not government-insured and whose loan-to-value is greater than 80 percent. When you have accumulated 20 percent of your home's value as equity, your lender may waive PMI at your request. Please note that such insurance is not a form of life insurance that pays off the loan in case of death.
Private mortgage insurance. A form of insurance required by a lender when the borrower's down payment or home equity percentage is less than 20 percent of the home value.
Private mortgage insurance: If your down payment on a home is less than 20 percent of the value of the home, you must obtain PMI. We do not require PMI.
Private Mortgage Insurance. Insurance purchased by the 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 usually maintained until the outstanding amount of the loan is less than 80 percent of the value of the house, or for a set period of time (7 years is common). Mortgage insurance may be available through a government agency, such as the Federal Housing Administration (FHA) or the Veterans Administration (VA), or through commercial companies (referred to as private mortgage insurance or PMI).
Private Mortgage Insurance. Insurance provided by a non-governmental insurer that protects lenders against a loss if a borrower defaults. Usually required on all loans with a LTV equal or greater than 80%.
Insurance that is required on most loans with less than a 20% down payment that protects the lender from potential default.
Private Mortgage Insurance. If the Loan-to-Value Ratio on a mortgage is greater than 80% (i.e. the loan is for more than 80% of the home's value), the lender will typically require the borrower to pay for Private Mortgage Insurance. It is sometimes possible to discontinue PMI later on, when the borrower has built up equity in the home.
Private Mortgage Insurance. PMI is often required if the borrower has made less than a 20 percent downpayment on their home purchase. It is an insurance policy that the borrower buys to protect the lender from non-payment on the loan. FHA requires the payment of a mortgage insurance premium.
PRIVATE MORTGAGE INSURANCE. Insurance written by a private mortgage insurance company to protect the lender against mortgage loan default on loans over 80% Loan to Value.
private mortgage insurance. Insurance that protects a lender in the event that a homeowner defaults on a loan.
Private Mortgage Insurance. A type of insurance which protects the lender in the event the borrower defaults on the loan. PMI is generally required where a borrower is unable to produce a down payment equal to at least 20% of the total purchase price. The premium for PMI is paid by the borrower and is included in each monthly mortgage payment. In a refinancing scenario, PMI is typically required when the amount financed is greater than 80 percent of the appraised value of the property.
Private mortgage insurance is an agreement that a private insurer will partially repay the lender if the borrower defaults.
Private Mortgage Insurance. The mortgage insurance policy lenders require a borrower to purchase on a conventional loan when the down payment will be less than 20% of the purchase price of a property. It insures the lender's exposure for the loan amount that is over the 80% Loan-to-Value Ratio.
PRIVATE MORTGAGE INSURANCE. PMI loans with minimal down payments (less than 20%) require private mortgage insurance by the lender. The insurance covers the lender's risk in making the loan and covers the amount usually equal to the low down payment and the normal down payment and twenty percent. The PMI is paid by the transferee and is part of the monthly mortgage payment and is applied to the escrow account. The lender pays the insurance annually.
PRIVATE MORTGAGE INSURANCE. Insurance against a loss by the lender in the event of default by a borrower. Similar to the insurance by a governmental agency- such as FHA- except that a private insurance company issues it. The premium is paid by the borrower and is included in the mortgage payment.
Private Mortgage Insurance. Insurance required on most conventional loans with less than 20% down payment to protect the lender against default.
(Private Mortgage Insurance) privately owned companies that offer standard and special affordable mortgage insurance programs for qualified borrowers on loans over 80% of the purchase price or appraised value, whichever is less.
Private Mortgage Insurance. In the event that you do not have a 20 percent down payment, lenders will allow a smaller down payment. With the smaller down payment loans, however, borrowers are usually required to carry private mortgage insurance. This insurance protects the lender against financial loss, should a borrower default on their mortgage.
Insurance purchased by the borrower to insure the lender or the government against loss should you default. MIP, or Mortgage Insurance Premium, is paid on government-insured loans (FHA or VA loans) regardless of your LTV (loan-to-value). Should you pay off a government-insured loan in advance of maturity, you may be entitled to a small refund of MIP. PMI, or Private Mortgage Insurance, is paid on those loans which are not government-insured and whose LTV is greater than 80%. When you have accumulated 20% of your home's value as equity, your lender may waive PMI at your request. Please note that such insurance does not constitute a form of life insurance which pays off the loan in case of death.
PMI, or Private Mortgage Insurance, is typically provided by a private company and paid for by the borrower. PMI is intended to protect the lender against loss if the borrower defaults on the loan. PMI is only required for some mortgage loans.
Private Mortgage Insurance. In the event that you do not have a 20 percent down payment, lenders will allow a smaller down payment - 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 usually require an initial premium payment and may require an additional monthly fee depending on you loan's structure.
Private Mortgage Insurance. You may be required to buy PMI to insure your lender against losses in the event you fail to repay your loan.
PRIVATE MORTGAGE INSURANCE. an insurance policy paid by the borrower that protects the lender from non-payment of the loan. It is usually required if you make a down payment that is less than 20% of the appraised value of the home.
Private Mortgage Insurance. May be required by your Lender if the loan you apply for cannot be granted because the loan does not meet the normal standards for the Lender. The most common reason for this requirement is a smaller down payment than the Lender usually requires which is around 20%. This insurance protects the Lender from loss if the Borrower defaults. It does not protect the Borrower, though it may allow the Borrower to qualify for a loan they could not otherwise get. PMI will require monthly payments Premiums will vary generally between 0.50% to 2.0% of your mortgage amount.
Private mortgage insurance. Mortgage insurance available for a premium which allows a borrower to take out a loan with a down payment of less than 20%. Unlike VA or FHA insurance, PMI is not backed by any government agency.
Private Mortgage Insurance. Insurance provided by non-government insurers that protects lenders against a loss if a borrower defaults. Promissory Note Written promise to pay; sometimes used in lieu of earnest money deposit check with contract.
PMI-Assisted Presale Partial Payments Performance Bond Plat Book Points Positive Equity Posting Power Of Attorney Power Of Sale Clause Pre-Foreclosure Prepaids Prepayment Clause Primary Lender Promissory Note Property Condition Prorations Purchase Money Mortgage
Private Mortgage Insurance. Insurance coverage obtained from mortgage insurance companies to protect lenders against the risk of making higher loan-to-value loans. Typically required on all first mortgages with an LTV that exceeds 80%. percent. The borrower usually pays the PMI premiums.
Private mortgage insurance required as part of the monthly payment in loans less than 80% loan to value (less than 20% down-payment).
stands for Private Mortgage insurance. These are privately-owned companies that provide mortgage insurance, offering standard and special affordable programs for borrowers. These companies provide guidelines to lenders that detail the types of loans they will insure. Lenders use these guidelines to determine borrower eligibility.
Private Mortgage Insurance. Insurance policies written by private companies insuring lenders against loss resulting from defaults on mortgages.
also called “Private Mortgage Insurance†- Required on conventional loans representing 80% or more of the value of the property. PMI insures the lender against financial loss in the event of a default in the repayment of the loan.
Private Mortgage Insurance (also referred to as MI)—Coverage that, in instances of default, guarantees a lender the partial payment of an outstanding loan balance. Traditionally, lenders require PMI in instances where the loan to value ratio is higher than 80 percent, however, lenders have been known to waive this requirement under their affordable housing programs. PMI premiums are included in a borrower's monthly mortgage payments. The amount can range anywhere from $30-$50 per month, depending in the loan amount. The insurance can be discontinued when an appraisal shows that the loan to value ratio has dropped below 80 percent. The cost of such an appraisal is the responsibility of the borrower.
Private Mortgage Insurance. This is something common for first-time home buyers. If you have, say, less than 20% of the loan amount for a down payment, you may be required to carry private mortgage insurance.
Private Mortgage Insurance. Insurance against a loss by a lender normally required in the event the lender has lent more than 80% of the value of the property securing the loan. The premium is paid by the borrower and is usually included in the mortgage payment.
PRIVATE MORTGAGE INSURANCE. in the event that you do not have a 20 percent downpayment, lenders will allow a smaller downpayment - a low as 5 percent in some cases. With the smaller downpayment, 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 mortgage amount and may require an additional monthly fee depending on your loan's structure. On a $75,000 house with a 10 percent downpayment, this would mean either an initial premium payment of $2,025 to $3,375, or an initial premium of $675 to $1,130 combined with a monthly payment of $25 to $30.
Private Mortgage Insurance. Insurance provided by a private company helping to protect the mortgage lender against mortgage default. Generally, the insurance is required by the lender when the down payment is less than 20'% of the properly value. The tender requires the borrower to pay the insurance premiums.
Private Mortgage Insurance. PMI is mortgage insurance issued by private insurers that protects the lender against loss in the event the borrower defaults on a mortgage with a low downpayment.
Private Mortgage Insurance. Insurance paid by the borrower that protects the lender in case of default on a loan. With conventional loans, mortgage insurance is generally not required with a down payment of at least 20%. Also known as mortgage insurance.
Private Mortgage Insurance. PMI is similar to MIP, however PMI is provided by insurance companies to protect lenders issuing conventional loans from foreclosure losses.
Private Mortgage Insurance. A form of insurance coverage required in high loan-to-value ratio conventional loans to protect the lender in case of borrower default in loan payment.
Private Mortgage Insurance. Insurance required by lenders on some conventional loans, usually with loan-to-values greater than 80%. The insurance is written by a private company and it protects the lender against foreclosure loss.
Private Mortgage insurance. Also known as MI or PMI (for private mortgage insurance) is a policy that protects the lender by paying the costs of foreclosing on a house if the borrower stops paying the loan. It is typically paid monthly by the borrower
Private Mortgage Insurance. An insurance policy the borrower buys to protect the lender from non-payment of the loan. Private mortgage insurance policies are usually required if you make a down payment that is below 20% of the appraised value of the home.
PRIVATE MORTGAGE INSURANCE. 1) A policy of insurance issued by a non-governmental entity which protects a lender against the default of the borrower. 2)Mortgage default insurance designed to pay a lender a portion of the outstanding balance of a loan in the event that a homeowner defaults.
When the downpayment (or remaining equity in a property) is than 20% of the value, the lender feels "exposed". You are required to get private mortgage insurance that protects the lender against your default on the mortgage. The lender obtains this coverage at your expense. Please remember, the bank does not want to own your property and statistically, the lower the downpayment, the more likely a borrower under financial stress will walk away from the property.
Private Mortgage Insurance. Insurance that protects a lender in the event of the borrower's default in the payment of a mortgage loan and is generally required if the amount borrowed is more than 80% of the value of the real property securing the mortgage loan.
Private Mortgage Insurance. A lender may require you to purchase mortgage insurance if you make a down payment of less than 20% of the market value of the home. There are different types of insurance available which often affect the type of mortgage loans you obtain.
private mortgage insurance. Insurance provided by private carrier that protects a lender against a loss in the event of a foreclosure and deficiency. A special form of insurance designed to permit lenders to increase their loan-to-market-value ratio, often up to 95 percent of the market value of the property. Many lenders are restricted to 80 percent loans by government regulations, special loss reserve requirements or internal management policies related to mortgage portfolio mix. A lender, however, may lend up to 95 percent of the property value if the excess of the loan amount over 80 percent of value is unsured by a private mortgage guaranty insurer. ( See deficiency , foreclosure ) Mortgage Insurance Companies of America
Private Mortgage Insurance. If your downpayment is less than 20 percent, you will typically be required to pay PMI - a fee for mortgage insurance. This insurance, provided by a private mortgage insurance company, protects the lender should you default on your house payments.
Private Mortgage Insurance. In the event that you do not have a 20 percent down payment, lenders will allow a smaller down payment-as low as 5 percent in some cases. With the smaller down payments loans, however, borrowers are usually required to carry private mortgage insurance. Premiums are collected monthly by your lender, and the amounts vary with the loan balance, term, and loan-to-value.
(Private Mortgage Insurance) - Required on a mortgage loan where there is a down payment or equity of less than 20% of the purchase price or appraised value, whichever is lower. PMI is releasable if the property equity increases to a level acceptable to the Mortgagor - typically 70 to 80% LTV. Other factors may apply, so consult with your Lender's mortgage servicing department.
PRIVATE MORTGAGE INSURANCE. The insurance lenders require from the borrower on conventional financing. PMI protects the lender against loan default when a down payment of less than 20 percent is made.
Private Mortgage Insurance. Insurance against a loss by the lender in the event of default by the borrower. Borrowers are usually required to carry private mortgage insurance if the down payment is less than 20%. The premium is paid by the borrower and is included in the mortgage payment.
Private Mortgage Insurance. Insurance which guarantees the lender payment of the balance of the loan not covered by the sale of the property in the event of foreclosure. PMI is normally required on conventional loans where the LTV is greater than 80% and will be included as part of your monthly payment.
Private Mortgage Insurance. In the event that a borrower does not have at least a 20% down payment lenders will allow a smaller down payment - sometimes as low as 5%. With these loans, borrowers are required to carry private mortgage insurance. PMI usually requires an initial premium payment, and may require an additional monthly fee, depending on your loan structure.
Private Mortgage Insurance. Required on virtually all conventional loans with less than 20 percent down payment. The premiums for PMI are included in your mortgage payment, and protect the lender should you default on the loan. On Federal Housing Authority (FHA) loans, you will pay a MIP (Mortgage Insurance Premium) which accomplishes the same purpose.
PRIVATE MORTGAGE INSURANCE. An insurance premium charged by the lender to the buyer with less than 20% of the down payment. In the event that the buyer should default on a loan.
Private Mortgage Insurance. Insurance provided by a private company to the lender and protecting against loss if the borrower fails to make payments on the loan.
PRIVATE MORTGAGE INSURANCE. See Mortgage Insurance Premium.
Private Mortgage Insurance. Insurance provided by private companies to conventional lenders for loans with loan to value ratios over 80%.
Private Mortgage Insurance. Insurance written by a private company protecting the mortgage lender against loss in case of foreclosure.
Private Mortgage Insurance. Mortgage Insurance that lenders require of borrowers whose loan-to-value ratio is higher than 80%. So anyone putting less than 20% down on a home may be subject to PMI. As a property appreciates and principal is reduced through steady payment, PMI can be removed if the property is reassessed and the loan principal to new assessed value is less than 80%.
Private Mortgage Insurance. insurance that indemnifies the lender from the borrower defaulting on the loan (typically on the top 20% of the loan)
Private Mortgage Insurance is required when you have adown payment of less than 20%. Most lenders require PMI under these circumstances. The premium is based on the loan amount.
(Private Mortgage Insurance) Insurance coverage for the lender that is paid for by the borrower. The PMI insures a certain portion of the loan in the event of default or foresclosure. Usually the smaller the downpayment the higher the PMI fees. This fee can be paid in several ways - as an upfront fee at the time the loan is made, as a part of your monthly payment or as a combination of these two methods.
Private Mortgage Insurance. A fee charged by the lender which is based upon the loan to value of the loan being made. Usually, this is a fraction of 1% of the loan amount and the fee can be impounded along with taxes and insurance, or the premium for one year can be paid in full at the close of the escrow. This fee protects the lender in case of default by the borrower. FHA loans require Mutual Mortgage Insurance (MMI). Typically once a homeowner has paid the principal balance of the loan down to below 80% LTV, the homeowner may request the lender to remove this fee. Some lenders are very picky about this, and even though the LTV is below 80%, they may keep the PMI on the loan until it has reached 75% LTV.
Private Mortgage Insurance. An insurance policy issued by a private entity that protects a lender of conventional loans should a buyer default on the payments.
Private Mortgage Insurance. If your loan exceeds 80% of the value or purchase price of your property, the lender may elect to insure the loan against default. They do this with Private Mortgage Insurance, which you pay as part of your monthly housing expense. The insurance comes out of your pocket and is not tax-deductible, but it allows the lender to make more aggressive loans than it otherwise could.
Private Mortgage Insurance. Insurance required by lender from a non-governmental insurer if down payment is less than around 20%.
Private Mortgage Insurance. Insurance issued by private insurers to lenders to protect the lender against loss if a borrower defaults on a mortgage with a low down payment.
Private mortgage insurance. If your down payment is less than 20 percent of the property's cost, most lenders will require you to obtain private mortgage insurance, which protects your lender if you default on the loan. Cost: $45 to $75 a month. Be sure you can cancel the private mortgage insurance policy when you've paid your loan to less than 80 percent of your home's value.
Private Mortgage Insurance. Insurance that protects lenders against a financial loss if the borrower defaults on the loan. PMI is usually required for conforming loans with an LTV over than 80%.
Private Mortgage Insurance. Insurance that protects the lender in the event that the borrower defaults on the loan.
Insurance coverage a lender requires the borrower to obtain to protect the lender against loss in the event of a mortgage default. It's mandatory for higher loan-to-value mortgages (those above 80 percent LTV in most cases - that is, where the loan amount is 80 percent or more of the property's appraised value).
Private Mortgage Insurance. An insurance policy, which insures the lender against loss caused by default of the borrower.
Private Mortgage Insurance. MP] Mortgage insurance provided by private mortgage insurance companies (PMIs).
Private Mortgage Insurance is usually required on conventional loans where the down payment is less than 20%.
Private Mortgage Insurance Insurance provided by a non-government insurer to protect a lender against loss if a borrower defaults. Lenders may require PMI if the down payment is less than 20 percent of the purchase price.
PRIVATE MORTGAGE INSURANCE. Insurance provided by nongovernmental insures that protects lender against loss if a borrower defaults. Fannie Mae generally requires private mortgage insurance for loans with loan to value (LTV) percentages greater that 80%.
Private Mortgage Insurance. Enables the borrower to purchase a home with less than 20 percent down payment. The purpose of mortgage insurance is to protect the lender against loss in the event of foreclosure.
Private mortgage insurance. Insurance provided by non-government insurers that protects lenders against loss in the case of a loan default.
Private Mortgage Insurance. Insurance against a loss by a lender in the event of default by a borrower (mortgagor). A private insurance company issues this insurance. The premium is paid by the borrower and is included in the mortgage payment.
Private Mortgage Insurance. Insurance paid by the borrower to protect the lender from default. PMI is usually charged when the Loan-To-Value is greater than 80%.
The monthly mortgage insurance required on most Conventional type loans with LTV's greater than 80.0%.
Private Mortgage Insurance. Insurance provided by non-government insurers that protect lenders against loss if a borrower defaults. Fannie Mae generally requires PMI for loans with loan-to-value percentages greater than 80 percent.
Private Mortgage Insurance. Private Mortgage Insurance insures the lender against loss if the borrowers defaults on the mortgage loan. PMI is usually required when the borrower's down payment or equity is less than 20% of the loan value.
Private Mortgage Insurance. Insurance that protects the mortgage lender against losses that might be incurred if a loan defaults.
PRIVATE MORTGAGE INSURANCE. A form of mortgage insurance provided by private, non-government entities. Normally required when the LOAN TO VALUE RATIO is less that 20%.
Private Mortgage Insurance. Insurance coverage that many lenders, investors, and government agencies require the borrower to obtain to protect the lender against loss in the event of a mortgage default for mortgages with LTV's over 80%.
Private Mortgage Insurance. Insurance provided by a private company to protect the lender against losses that might be incurred if a loan defaults. It is required for any mortgage where the buyer's downpayment is less than 20% of the purchase price. The cost of the insurance is factored into the borrower's payment and is sometimes referred to as mortgage insurance. It is easy to confuse (PMI) with other types of insurances associated with homeownership. PMI is not mortgage life insurance, which pays the borrower's mortgage off if he/she becomes disabled or dies.
Private Mortgage Insurance. Insurance provided by a private company (rather than FHA) that protects the lender against loss caused by a borrower's default; the borrower , however, pays the premium for the insurance. This insurance usually is required on loans with high loan-to-value ratios.
PRIVATE MORTGAGE INSURANCE. Insurance written by private companies to protect a lender against loss if the borrower defaults on a mortgage. PMI is often required on mortgage loans with less than 20% down payment.
Insurance purchased by the lender to protect them in case a buyer is unable to make their loan payments. This cost is paid by the homebuyer, as part of their monthly mortgage payment. Home buyers can avoid this fee by making a down payment of 20% or more
PRIVATE MORTGAGE INSURANCE. 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 homebuyer who makes less than a 20% down payment may have to purchase PMI.
Private Medical Insurance. An Insurance policy for paying private medical expenses
Private Mortgage Insurance. If the down payment is less than 20%, a conventional lender will require the buyer to purchase insurance to help reduce the risk of default. There is usually a fee at the close of escrow as well as a monthly fee that continues as long as the loan to value ratio is greater than 80%.
Private Mortgage Insurance. Private mortgage insurance insures the amount of the loan financed above 80%. Helps protect the lender and enables borrowers to finance loans beyond 80% loan to value. It is a non-tax-deductible expense. (avoid PMI expenses - see example)
Private Mortgage Insurance. Insurance coverage for the lender of a certain protection of the loan balance in the event of default and foreclosure. PMI may be required on certain types of loan and will be included as part of your monthly payment.
Private Mortgage Insurance. In the event that you do not have a 20 percent down payment, lenders will allow a smaller down payment - 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 is a financial guaranty that protects lenders against payment default.
Private mortgage insurance - Type of mortgage policy by which the lender is safeguarded against a borrower in the event he | she neglect to make necessary payments. Included under a PMI are fees associated with foreclosures. In most instances, the lender requires this type of insurance be purchased whenever the amount of the down payment falls short of equaling 20 percent of the purchase price.
private mortgage insurance. Mortgage insurance issued by private companies.
Private Mortgage Insurance. This insurance protects the lender if you default on your loan, and is required if your down payment is less than 20 percent. This cost can be eliminated once you build equity in your home (in other words, make repayments and reduce your principal by 20 percent).
Private Mortgage Insurance (see also Mortgage Insurance) Insurance purchased by a buyer to cover the lender's risk of loss.
Private Mortgage Insurance. Insurance required by investors to protect the lender in case the borrower defaults on the loan. Mortgage Insurance is typically required for conventional loans that have a down payment less than 20% of the purchase price. FHA and VA loans have different insurance and guidelines. Also known as Mortgage Insurance.
Private Mortgage Insurance. Mortgage insurance that protects the lender form a loss if the buyer defaults.
private mortgage insurance. Private mortgage insurance is a financial guaranty that protects lenders against loss in the event that a borrower defaults. It is the reason so many young families today can afford homeownership without waiting half their lives to save the amount required for a down payment.
private mortgage insurance. If the down payment is less than 20 percent of a home's purchase price, the borrower will probably need to purchase private mortgage insurance (also known as "mortgage default insurance"). Lenders feel that homeowners who can only come up with small down payments are more likely to default on their loans. Therefore, lenders make these homeowners buy PMI, which reimburses them the loan amount in case the borrower does default. Private mortgage insurance can add hundreds of dollars per year to loan costs. After the equity in the property increases to 20 percent, borrowers no longer need the insurance. Do not confuse this insurance with mortgage life insurance. Related Glossary Terms: Federal Housing Administration mortgage (FHA)
Private Mortgage Insurance. Insurance that protects the lender in case a borrower defaults on a mortgage.* Required to loans with an LTV of greater than 80
private mortgage insurance. 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 when the buyer's down payment is less than 20%. However, at the point where the mortgage balance is less than 80% of the appreciated value of the home, the buyer may apply to have PMI removed from their payments. With appreciation rates like those seen in Las Vegas in recent years, this opportunity may occur sooner than expected.
Private Mortgage Insurance. insurance that protects lenders against loss if a borrower defaults on the loan. This is required when the down payment is less than 20%.
Private Mortgage Insurance. Insurance purchased by the borrower to protect the lender against losses if the borrower defaults. PMI is normally required when purchasing a home with less than a 20% downpayment.
PRIVATE MORTGAGE INSURANCE. Insurance provided by a private company which protects the lender against loss by a mortgage insurance company.
private mortgage insurance. Default insurance for conventional loans, normally required with smaller down-payment loans.
Private Mortgage Insurance. A lender’s insurance policy to allow for financing more than 80 percent of a property’s value.
PRIVATE MORTGAGE INSURANCE. Insurance guaranteeing the payment of a loan. This type of mortgage insurance is normally charged when the loan exceeds 80% of the property value.
Private Mortgage Insurance. Protects the lender in case of default. Lenders typically require borrowers to purchase PMI when the loan-to-value ratio is greater than 80%.
Private Mortgage Insurance. Insurance that protects a mortgage lender against loss in the event of default by a borrower.
PRIVATE MORTGAGE INSURANCE. Insurance written by a private company protecting the mortgage lender against loss occasioned by a mortgage default.
Private mortgage insurance. Mortgage insurance that protects lenders from a loss if the buyer defaults.
PRIVATE MORTGAGE INSURANCE. Insurance against a loss by a lender in the event of default by a borrower (mortgagor). It generally is required when the home buyer makes a down payment of less than 20 percent of the purchase price. The initial premium payment is usually 1 to 5 percent of the mortgage amount and may require an additional monthly fee, depending on the loan structure. (For example, for a $75,000 house with a 10 percent down payment, PMI payments would be either an initial premium payment of $2,025 to $3,375 or an initial premium of $675 to $1,130 plus monthly payments of $25 to $30.)
Private Mortgage Insurance. In the event that you do not have a 20 percent down payment, PMI is required. In some instances your loan package will be two loans, one at 80% of the purchase price, with the second loan up to 20% of the purchase price. This avoids the need for PMI.
Private mortgage insurance. Insurance provided by a non-government insurer to protect a lender against loss if a borrower defaults. Usually required if down payment is less that 20%.
Private mortgage insurance. Insurance provided by a nongovernmental insurer that protects lenders against a loss if a borrower defaults. Usually required on all loans with an "LTV" of more than 80%.
Insurance required by mortgage lender for loan amounts over a set percentage to protect lender against loan default.
Private Mortgage Insurance. A policy that protects the lender by reducing their exposure on a house if the borrower stops paying the loan. The borrower pays the fees monthly. PMI is usually required if the loan is greater than 80% of the lesser of the appraised value or purchase price.
Abbreviation for private mortgage insurance. Lenders require PMI when the LTV (loan to value) exceeds 80%. PMI insurance as a rule of thumb costs approximately 1% of the loan amount per year. The cost is generally added to the monthly payment.
Private Mortgage Insurance. see Mortgage Insurance (MI)
Private Mortgage Insurance. Privileged Communication
Private mortgage insurance, as distinguished from insurance provided by government under FHA and VA.
PRIVATE MORTGAGE INSURANCE. An insurance premium charged by lender to buyers with less than 20% down payment. PMI insures lender in the event that buyer should default on the loan.
An insurance policy offered by a private company to protect a lender against loss on a defaulted mortgage loan. Usually, PMI is required only for loans with a high loan-to-value ratio. The borrower usually pays the PMI premiums.
Private Mortgage Insurance. Insurance generally required by a lender when the borrower's down payment is less than 20 percent of the purchase price, enabling a lender to make a conventional loan of a higher percentage of the property value. The cost of private mortgage insurance is usually included in the borrower's monthly mortgage payment.
Private Mortgage Insurance. Protects lenders against loss if a borrower defaults. Most lenders generally require mortgage insurance with less than a 20% down payment.
PRIVATE MORTGAGE INSURANCE. insurance written to protect a conventional lender against loss if the borrower cannot make his mortgage payments. The borrower pays this as a monthly fee. It is generally required if the down payment is less than 20% of the purchase price.
Private Mortgage Insurance. Insurance written by a private company not connected to Harbor Federal, protecting Harbor Federal against a loss in the event the mortgage defaults. The lender generally requires PMI when the Loan-to-Value exceeds 80%.
Private Mortgage Insurance. Insurance written by a private company to protect a lender against financial loss should the borrower default on the mortgage.
Private Mortgage Insurance. This insurance permits a borrower who has less than 20% as down payment to purchase a home because it protects a mortgage lender against the borrower's potential default on a mortgage.
Private mortgage insurance, used to insure high LTV conventional loans; it's provided by a private insurance company instead of a government agency.
Private Mortgage Insurance. Insurance provided by a private insurance company to help protect the mortgage lender against default. It is typically required only when the down payment is less than 20%.
means Private Medical-Care, Inc., dba. PMI Dental Health Plan, a specialized health care service plan licensed by the California Department of Managed Health Care.
Private Mortgage Insurance. Insures a lender against any loss arising from the borrower's default (non-payment) on the loan. Required on most loans with less than a 20% down-payment. Same as FHA MIP. With an FHA loan, it is known as MIP, and is included in all FHA loans regardless of the amount of down payment.
Private Mortgage Insurance. Insurance issued by private insurers that protects lenders against a loss if a borrower defaults on a mortgage with a low downpayment (e.g., less than 20 percent).
Private Mortgage Insurance. PMI protects the lender against loss in the event that the borrower defaults on the loan. PMI is typically required by a lender when the amount borrowed is greater than 80% of the property's value.
Private Mortgage Insurance. mortgage insurance that is provided by the private sector for those borrowers which qualify; usually required when the borrower makes a down payment that is less than 20% of the purchase price of the property
Private Mortgage Insurance. Insurance which insures the upper portion of a mortgage loan therby reducing the lender's risk to principal loss in the event of a borrowers default. The insurance coverage allows lenders to make higher loan-to-value ratios (95% LTV)
Private Mortgage Insurance. Paid by a borrower to protect the lender in case of default. PMI is typically charged to the borrower when the Loan-to-Value Ratio is greater than 80%.
Insurance purchased by the lender to protect them in case a buyer cannot make their loan payments. PMI typically costs between $50 and $200 per month, depending on the size of the mortgage. This monthly amount is paid by the homebuyer, as part of their monthly mortgage payment. Buyers can avoid a PMI payment if their down payment is large enough (typically 20% of the home price).
Private Mortgage Insurance. In the event that you do not have a 20 percent down payment, lenders will allow a smaller down payment. With the smaller down payments loans, however, borrowers may be required to carry private mortgage insurance. Private mortgage insurance will be based on the amount of down payment you have below 20% as well as other lender assessed risks.
Private Mortgage Insurance. Monthly insurance premium required in the event that you do not have a 20 percent down payment. Lenders will allow down payments less than 20 percent (as low as zero percent in some cases), but borrowers are usually required to carry private mortgage insurance (unless a Combination Loan is used). Go top
Private Mortgage Insurance. Insurance paid for by the borrower to insure the lender against default in conventional loans.
Private Mortgage Insurance. On a conventional loan PMI is required if you borrow over 80.01% of your appraised value. This protects the lender against financial loss if the loan is defaulted.
Private Mortgage Insurance. Insurance which protects the lender should a borrower default on the loan. PMI is required when the down payment on a property is less than 20% of the property's price and can add hundreds of dollars to the annual loan cost.
Private Mortgage Insurance. Insurance written by a private company protecting the lender against loss if the borrower defaults on the mortgage.
Private Mortgage Insurance. Insurance written by a private company to protect the lender against loss resulting from nonpayment or default.
Private mortgage insurance. A policy the borrower buys to protect the lender from loss in the event of foreclosure. PMI policies are usually required if you make a down payment that is less than 20 percent of the appraised value of the home. For example, if a borrower defaults on a $90,000 loan and the lender forecloses and resells the property for $85,000. The lender would have a claim under the PMI policy for $5,000.
Private Mortgage Insurance. Insurance that protects a lender against part or all of their loss in the event the borrower's default on their home loan.
Private mortgage insurance. Buyers pay this insurance if their down payments are less than 20% of a home's purchase price (on a conventional mortgage loan).
Private mortgage insurance. PMI is provided by nongovernment insurers that protect lenders against loss in the case of default.
Insurance that protects mortgage lenders against default on loans by providing a way for mortgage companies to recoup the costs of foreclosure. PMI is usually required if the down payment is less than 20 percent of the sale price. Home buyers pay for the coverage in monthly installments. PMI is usually terminated when the home buyer has built up 20 percent equity in the property. Back
PRIVATE MORTGAGE INSURANCE. Private Mortgage Insurance (PMI) is the insurance a borrower is required to pay if they have less than 20% equity in their home. If you are required to pay PMI, the monthly amount must be calculated and included in the proposed mortgage payment. It must also be included when estimating the amount needed to establish your escrow account.
Private Mortgage Insurance. A private company which insures the mortgage lender on a conventional loan against loss caused by a mortgagor 's default. It may cover all or part of the loss. It is usually not required for loan-to-values of 80% or less.
Private Mortgage Insurance. Insurance issued to a lender to protect it against loss on a defaulted mortgage loan. Its use is usually limited to loans with high loan-to-value ratios. The borrower pays the premiums.
Private Mortgage Insurance. In the event that you do not have a 20 percent down payment, lenders will allow a smaller down payment - as low as 2 percent in some cases. With the smaller down payment loans, however, borrowers are usually required to carry private mortgage insurance. Private mortgage insurance payments are normally made annual or monthly. An impound account may be required.
Private mortgage insurance. Insurance that protects the lender in case a borrower defaults on a mortgage. If your down payment is less than 20 percent of your home's purchase price, you will likely need to purchase private mortgage insurance (also known as "mortgage default insurance"). The smaller the down payment, the more likely a homebuyer is to default on a loan. Private mortgage insurance can add hundreds of dollars per year to your loan costs. After the equity in your property increases to 20 percent, you no longer need the insurance. Don't confuse this insurance with mortgage life insurance.
Private Mortgage Insurance. Monthly insurance cost which borrowers must pay on loans which exceed 80% of the home’s value
(Private Mortgage Insurance) - lenders require PMI where there is a down payment of less than 20% of the home value. In the event of a foreclosure, the PMI will help to cover any losses incurred by the lender.
Private Mortgage Insurance. In the event that you do not have a 20% down payment, the lender will allow a smaller down payment, sometimes as low as 3%. However, with a smaller down pay– ment, borrowers are usually required to carry private mortgage insurance on the loan. Private mortgage insurance will require an initial premium payment of 1% to 5% of your mortgage amount and may require an additional monthly fee, depending on your loan structure. On a $75,000 home with a 10% down payment, this would mean either an initial premium payment of $2,025 to $3,375, or an initial premium of $675 to $1,130 combined with a monthly payment of $25 to $30.
Private Mortgage Insurance. 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 purchase price. (Note, however, that FHA and VA loans have different insurance guidelines.)
Private Mortgage Insurance. Insurance that indemnifies the lender from the borrower’s default, usually on the top 20 percent of the loan. Premiums are paid as an initial fee at time of closing, and as a recurring annual fee based on the principal balance, but paid monthly with the PITI payment. Both the initial and recurring frees are customarily paid by the buyer.
Private Mortgage Insurance. Insurance provided by a private company protecting conventional mortgage lenders against loss resulting from default by the borrower.
Private Mortgage Insurance. Insurance provided by a nongovernment insurer to protect a lender against loss if a borrower defaults. Usually required if down payment is less than 20 percent.
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.
Insurance written by a private company protecting the lender against loss due to a mortgage default. It is known as MIP for FHA loans. POINT: Synonym for one percent. "Points" may be charged as part of a mortgage, in addition to interest and fees.
"Private Mortgage Insurance" and represents insurance coverage for the lender in the event of loan default or home foreclosure. May be required on certain types of loans and will be included as part of the monthly payment.
private mortgage insurance. Mortgage insurance provided by a private mortgage insurance company to protect lenders against loss if a borrower defaults. Most lenders require mortgage insurance for loans with a loan-to-value ratio above 80 percent. See also mortgage insurance.
Private mortgage insurance. A special type of loan insurance that many lenders require borrowers to purchase if the borrower's down payment is less than 20 percent of the home's purchase price.
Private Mortgage Insurance–Charged on any loan the has a loan-to-value higher than 80
Private mortgage insurance typically required on loans with less than 20% of purchase price as down payment.
Private Mortgage Insurance. the usual down payment on real estate is 20%. If the down payment is smaller, lenders usually require the borrower to carry PMI to protect their loan. PMI usually requires an initial premium and usually additional monthly fees based on the loan's structure and balance owed
private mortgage insurance. Insurance required if the down payment on a home is less than 20 percent.
Private Mortgage Insurance. When you finance more than 80 percent of your new home's value, your lender will require you to purchase PMI. This protects the lender against loss if you default on your home loan. Your monthly PMI payment is added to the cost of your mortgage payment. It is important to note that when you have accumulated 20 percent equity in your home, you will want to check into canceling your PMI to lower your monthly mortgage payment.
Private mortgage insurance. An insurance contract that protects the lender against loss if a buyer can't repay a loan. If your down payment (or equity) is less than 20% of the purchase price, a lender will require you to purchase PMI - this is the lender's safety net in case you default on a loan. How much you need to pay each month in insurance depends on the loan amount, the type of loan and the down payment. Typically, it costs between .15% to 2.5 % of the loan amount. You might also have to pay one or two months of PMI payments in advance at closing, which is put into an escrow account. The good news is that you don't have to pay PMI forever - you can request, in writing, to drop your policy when you have 20% equity in your home. The lender will then check to see that you have good payment history, and will require an appraisal to confirm your property's value. And, according to a new federal law, if you got your mortgage on or after July 29, 1999, your lender must automatically cancel PMI once you have 22% equity.
Private Medical Insurance, a generic term used in the industry for medical expenses insurance.
Private Mortgage Insurance. Insurance that provides financial protection to your lender if you default on your mortgage payment. By purchasing PMI, a homebuyer may be able to obtain a mortgage with little or no down payment.
Private Mortgage Insurance. A fee which provides compensation to the lender in the event the borrower defaults on the mortgage. A borrower is usually required to purchase PMI if the borrower is unable to make a down payment of at least 20% of the purchase price of a home.
Private Mortgage Insurance. Insurance required by lenders on loans with less than a 20% downpayment. Once you have paid down your mortgage by 20% your mortgage lender, under the Homeowners Protection Act of 1998, is required to cancel the PMI on most loans.
Insurance provided by a private company to protect the lender against loss caused by mortgage default. Required if there is less than 80% equity in the property.
Private Mortgage Insurance. Insurance the buyer carries to guarantee that the lender is paid off if the buyer defaults (fails to pay) on a mortgage. This is different from homeowner's insurance. It is generally required for all mortgages with less than a twenty percent down payment. The exact amount depends on the amount of the loan and the size of the down payment.
Private mortgage insurance. Private mortgage insurance is an insurance policy that a residential mortgage lender requires of the borrower if the loan-to-value (LTV) ratio of the home is greater than 80%. Mortgage insurance protects the lender from the risk that the borrower may default on the loan. Federal law requires lenders to notify borrowers when the loan-to-value ratio drops below 80%. Mortgage insurance premiums vary, but generally range from $1,000 to $5,000 a year for an average priced home.
Private Mortgage Insurance. This is the mortgage default insurance designed to pay the lender a portion of the outstanding balance of a loan in the event that the homeowner defaults. PMI may be required on certain types of loans. If so, the initial premium is usually one of the closing costs, usually subsequent payments are included in the borrowers monthly payments. Usually applies to loans with only 10% down.
Private Mortgage Insurance. Insurance purchased by a buyer when a down payment is less than 20% of the purchase price to protect the lender against default.
is insurance provided by a mortgage insurance company to protect a lender in the event of default on a loan. Private mortgage insurance is generally required when a borrower puts less than 20% down on a loan. The borrower pays for mortgage insurance on a monthly basis in addition to the principal and interest payments that are made on a loan. The lender then transfers the private mortgage insurance payments to the insurance company
Private Mortgage Insurance. Probate Purchase Money Mortgage
Private Mortgage Insurance. This is the insurance provided by non-government insurers that protect lenders against loss if a borrower defaults. Some insurers require private mortgage insurance for loans with loan-to-value (LTV) percentages greater than 80%.
Private Mortgage Insurance. Lenders require insurance that will protect them in the event that a buyer defaults on their loan. PMI is required on mortgage loans that exceed 80% of the sales price of the home.
Private Mortgage Insurance. A mortgage insurance policy on a conventional mortgage loan issued by a private insurance company.
Private Mortgage Insurance. Third party insurer that protects the lender in case of a borrower's default. ualifying Ratios A measurement used by the lender to evaluate the ability of a borrower to repay mortgage debt. It is calculated by comparing monthly housing expenses verses total debt. ate Describes the amount of interest applied to the principal of a mortgage.
Private Mortgage Insurance A way for lenders and the buyers to insure their exposure on the loan to no less than 20% equity in a property.
Insurance required on conventional loans with less than a 20% down payment to protect the lender from possible default on the loan.
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.
Private Mortgage Insurance. Some lenders will allow a down payment smaller then the one normally required if the borrower purchases private mortgage insurance which guarantees the repayment of the mortgage under certain terms.
Private Mortgage Insurance. Insurance on some loans, which protects lenders from possible default by borrower. Conventional loans with down payments of less than 20 per cent of the home value usually require private mortgage insurance (PMI).
Private Mortgage Insurance. An insurance policy the borrower buys to protect the lender from non-payment of the loan. This is required for loans where the borrower puts less than 20% down. With a new law that took effect in 1999, PMI will automatically be removed when the loan is paid down to 78% LTV, subject to the borrowers good credit history. Read about different PMI options.
Acronym - private mortgage insurance.
Private mortgage insurance. Default insurance on conventional loans, normally insuring the top 20%-25% of the loan and not the whole loan.
Private Mortgage Insurance. Insurance against a loss by a lender in the event of default by a borrower. (Required for most mortgage loans greater than 80%LTV)
Insurance from a private corporation that limits the Lender's liability in case of a default and foreclosure. This insurance is [typically] required on loans greater than 80% of the subject's value.
Private mortgage insurance. protects the lender against a loss if a borrower defaults on the loan. It is usually required for loans in which the down payment is less than 20 percent of the sales price or, in a refinancing, when the amount financed is greater than 80 percent of the appraised value.
Private Mortgage Insurance. Insurance provided by a non-government insurer, protecting the lender from loss should the borrower default. This insurance is typically required when the buyer's down payment amount is less than 20% of the home's purchase price.
Private Mortgage Insurance Private mortgage insurance is a type of insurance that helps protect the mortgage company against losses due to foreclosure. This protection is provided by private mortgage insurance companies and allows mortgage companies to accept lower down payments than would normally be allowed. Private mortgage insurance also enables mortgage companies to grant loans that would otherwise be considered too risky to be purchased by third party investors like the Federal National Mortgage Association (FNMA) and the Federal Home Loan Mortgage Corporation (FHLMC). The ability to sell loans to these investors is critical to maintaining mortgage market liquidity, which in turn, allows mortgage companies to continue originating new loans. In general you can choose other type of mortgage program to avoid MI and reduce your monthly payments or with same payment amount you can buy "more of a house".
Insurance written by a private company that insures repayment of the loan balance to the lender in the event of default by the borrower. Usually required for homes financed with less than a 20 percent down payment.
Private Mortgage Insurance. Mortgage insurance on conventional loans. In the event that you do not have a 20% down payment, lenders will allow a smaller down payment - as low as 3% in some cases. However, borrowers are usually required to carry private mortgage insurance (PMI). PMI will usually require an initial premium payment and additional monthly fee depending on your loan's structure. NOT required if you put down 20% or more. There are programs available that avoid PMI with less than 20% down.
Private mortgage insurance. Needed to insure all of the mortgage representing more than 80 percent of appraised value or purchase price
Private Mortgage Insurance. An insurance policy paid by borrowers designed to protect lenders against default for loans over 80 percent Loan-to-value ratios.
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.
Private Mortgage Insurance. Insurance offered by a private mortgage insurance company to protect lenders against loss if a borrower defaults. Most lenders require PMI for a loan with a loan-to-value (LTV) percentage greater than 80 percent. The borrower usually pays the PMI premiums.