« Interest Only Mortgage A Short Term | Main | Secured Home Loans A Home Advantage For Cheaper »
May 04, 2006
What Is Private Mortgage
Private mortgage insurance or PMI as is known is a form of insurance new homeowners are required to purchase. This is particularly so if their down payment is 20 percent or less of the property's valued price or sale price. The main reason for private mortgage insurance is to protect lenders in the case the new homeowner defaults on their home
Posted by Bob at May 4, 2006 04:37 PM
