What Does Private Mortgage Insurance Mean?

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What does Private Mortgage Insurance mean? Read on to discover the definition & meaning of the term Private Mortgage Insurance - to help you better understand the language used in insurance policies.

Private Mortgage Insurance

Private Mortgage Insurance

Private Mortgage Insurance (PMI) is a policy that a financial institution requires of a borrower who has paid lower than 20% for the purchase of a home and is borrowing money to pay the home in full. This is meant to protect the lending financial institution.

We hope the you have a better understanding of the meaning of Private Mortgage Insurance.

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