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Private mortgage insurance (PMI)
A special type of loan insurance that many lenders require borrowers to purchase if the borrower's down payment is less than 20 percent of the home's purchase price.
Related Terms
Impounds
Mortgage insurance
Insurance
Mortgage life insurance
Credit life insurance
PITI (Principal Interest Taxes Insurance)
Disability insurance
Insurance binder
Redlining
Hazard insurance
Escrow payment
Mortgage banker
Homeowners' insurance
Condemnation
Escrow analysis
Escrow account
Home Stager
Binder
Avigation easement
Eminent domain
Back title letter
Co-insurance
Alternative mortgage
Rehabilitation mortgage
Purchase-money mortgage
Fully amortized adjustable-rate mortgage
Biweekly mortgage
Blanket mortgage
First mortgage
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