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  2. Private mortgage insurance (PMI): What it is and how it works

    www.aol.com/finance/private-mortgage-insurance...

    Private mortgage insurance (PMI) is an extra monthly fee that you pay on a conventional mortgage if you put less than 20 percent down. PMI must be terminated at a certain point in your loan term ...

  3. How to get rid of private mortgage insurance (PMI) - AOL

    www.aol.com/finance/rid-private-mortgage...

    The Homeowners Protection Act of 1998 requires that lenders remove private mortgage insurance when a borrower reaches a 78 percent loan-to-value (LTV) ratio. For example, if the purchase price of ...

  4. Mortgage insurance vs homeowners insurance: what’s the ...

    www.aol.com/finance/mortgage-insurance-vs...

    Mortgage insurance, also known as private mortgage insurance (PMI), is typically required for borrowers who make a down payment of less than 20 percent when purchasing a home.

  5. Mortgage insurance - Wikipedia

    en.wikipedia.org/wiki/Mortgage_insurance

    Mortgage insurance. Mortgage insurance (also known as mortgage guarantee and home-loan insurance) is an insurance policy which compensates lenders or investors in mortgage-backed securities for losses due to the default of a mortgage loan. Mortgage insurance can be either public or private depending upon the insurer.

  6. VA loan - Wikipedia

    en.wikipedia.org/wiki/VA_loan

    A VA loan is a mortgage loan in the United States guaranteed by the United States Department of Veterans Affairs (VA). The program is for American veterans, military members currently serving in the U.S. military, reservists and select surviving spouses (provided they do not remarry) and can be used to purchase single-family homes, condominiums, multi-unit properties, manufactured homes and ...

  7. Lenders mortgage insurance - Wikipedia

    en.wikipedia.org/wiki/Lenders_mortgage_insurance

    Mortgage insurance in the US. The annual cost of PMI varies and is expressed in terms of the total loan value in most cases, depending on the loan term, loan type, proportion of the total home value that is financed, the coverage amount, and the frequency of premium payments (monthly, annual, or single).

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