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| What is Credit |
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| Process |
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| Escrow |
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| Mortgage Insurance |
Private Mortgage Insurance (PMI) is insurance that protects your lender against non-payment should you
default on your loan. It's important to understand that the primary and only real purpose for mortgage
insurance is to protect your lender—not you. As the buyer of this coverage, you're paying the premiums, so
that your lender is protected. PMI is required by lenders on loans with high loan to value percent LTV%. Home purchase loans with low down payments. Consequently, it's sole and only benefit to you is a lower down payment mortgage.
default on your loan. It's important to understand that the primary and only real purpose for mortgage
insurance is to protect your lender—not you. As the buyer of this coverage, you're paying the premiums, so
that your lender is protected. PMI is required by lenders on loans with high loan to value percent LTV%. Home purchase loans with low down payments. Consequently, it's sole and only benefit to you is a lower down payment mortgage.
