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Mortgage insurance
Required by lenders in some loans to protect them from a possible default . All conventional loans with less than a 20 percent down payments require private mortgage insurance, or PMI.
Related Terms
Impounds
Mortgage life insurance
Credit life insurance
Insurance
Private mortgage insurance (PMI)
PITI (Principal Interest Taxes Insurance)
Disability insurance
Insurance binder
Redlining
Hazard insurance
Escrow payment
Mortgage banker
Homeowners' insurance
Escrow analysis
Escrow account
Binder
Back title letter
Co-insurance
Alternative mortgage
Rehabilitation mortgage
Purchase-money mortgage
Fully amortized adjustable-rate mortgage
Biweekly mortgage
Blanket mortgage
First mortgage
Renter's insurance
Buy-down mortgage
Convertible adjustable-rate mortgage
Growing-equity mortgage
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