what is private mortgage insurance

Private mortgage insurance, also calledPMI, is a type of mortgage insurance you might be required to pay for if you have a conventional loan. Like other kinds of mortgage insurance, PMI protects the lender—not you—if you stop making payments on you

what is mortgage insurance

How to avoid PMI on a mortgage?
Mortgage insurance covers your lender, not you. That makes it an expense you’ll want to avoid, if possible. Below are a few ways you can avoid PMI, if you’re able: 1 Put 20% or more down: If you have a conventional lo