Glossary · Loans

PMI (Private Mortgage Insurance)

Definition

PMI is insurance required by lenders when a borrower makes a down payment of less than 20% on a home.

What is PMI (Private Mortgage Insurance)?

PMI is insurance required by lenders when a borrower makes a down payment of less than 20% on a home.

How PMI (Private Mortgage Insurance) works

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Why PMI (Private Mortgage Insurance) matters

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Frequently asked questions