Hunter Lending Team Many a first-time homebuyer has grumbled about paying private mortgage insurance. This article discusses the particulars of private mortgage insurance, also known as "PMI."
Hunter Lending Team Insurance - we need it for our life, our car, our house, our health and yes, in some cases, even for our mortgage. Private Mortgage Insurance (PMI) is the mortgage industry term used to describe insurance that protects the lender of your mortgage against any type of default. It's primarily used when you put down less than 20% of the purchase price of your home.