Reina Marszalek is a senior mortgage editor at Fox Money who has spent more than 10 years writing and editing content. Fox Money is a personal finance hub featuring content generated by Credible ...
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5 Types of Private Mortgage Insurance (PMI)
If you make a down payment of less than 20% of the purchase price of your home, your lender may require you to pay private mortgage insurance (PMI). PMI is a type of mortgage insurance that borrowers ...
PMI protects your lender. You’re required to pay it if you put down less than 20% on a conventional loan or have less than 20% home equity when refinancing. Some or all of the mortgage lenders ...
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