Mortgage Topics
Interest Rates
Fixed Mortgage Explained
ARM Mortgage Explained
Adjustable Rate Mortgage
2nd Mortgage Explained
Reverse Mortgage
Mortgage Refinancing
Home Equity Loan
Home Equity Line of Credit
Qualifying for a Mortgage
Locking Your Loan
Your Mortgage Down Payment
Closing Statement
APR or Annual Percentage Rate
Common Interest Rate Index’s
PMI or Private Mortgage Insurance
Mortgage, Tax’s, & Insurance
Title Insurance
Freddie Mac
Fannie Mae
Escrow
Fixed Mortgage Explained
ARM Mortgage Explained
Adjustable Rate Mortgage
2nd Mortgage Explained
Reverse Mortgage
Mortgage Refinancing
Home Equity Loan
Home Equity Line of Credit
Qualifying for a Mortgage
Locking Your Loan
Your Mortgage Down Payment
Closing Statement
APR or Annual Percentage Rate
Common Interest Rate Index’s
PMI or Private Mortgage Insurance
Mortgage, Tax’s, & Insurance
Title Insurance
Freddie Mac
Fannie Mae
Escrow

Private Mortgage Insurance – PMI
Mortgage insurance required by a lender to protect it against default by individuals who are unable to come up with 20% cash as a down payment for a property purchase.
Mortgage insurance required by a lender to protect it against default by individuals who are unable to come up with 20% cash as a down payment for a property purchase.
Private Mortgage Insurance was created to allow individuals who may not have enough cash for a down payment the opportunity to purchase a home. The monthly premium due for a Private Mortgage Insurance policy is determined by the type of loan, the actual dollar amount of the loan, and may be added to the mortgage as a lump sum rather than paid monthly.
In many states, Private Mortgage Insurance can be terminated once the equity built up on the home is 20% or greater. The rules and percentages allowed for this termination vary from state to state and lender to lender check with your lender for its specific details on Private Mortgage Insurance termination.
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