5 Types of Private Mortgage Insurance – PMI

If you're making a down payment of less than 20% on a home, it's important to understand what private mortgage insurance (PMI). Mortgage insurance comes in five types. Four of these varieties fall under the category of PMI for a conventional loan. The fifth applies to mortgages insured by the Federal Housing Administration (FHA loan or FHA mortgage). ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Investopedia Daily | The Latest 5 Types of Private Mortgage Insurance – PMI If you're making a down payment of less than 20% on a home, it's important to understand what private mortgage insurance (PMI). Mortgage insurance comes in five types. Four of these varieties fall under the category of PMI for a conventional loan. The fifth applies to mortgages insured by the Federal Housing Administration (FHA loan or FHA mortgage). Read More » You may also be interested in: About the Section 125 Plan (Cafeteria Plan) Learn about section 125 cafeteria plans, who is allowed to use one, how it works, the benefits it provides, and how to set one up. Read More » SPONSORED BY FIDELITY INVESTMENTS Putting Your People Skills to Work Do you thrive on helping people? Financial services has an array of roles that could be a great fit. Here's why being a people person is perfect for a job in finance. Learn More » Want a Chance to Win a FREE Investopedia Academy Course? How much do you know about your portfolio? Tell us and you could win! Take Survey » Insurance Policy Death Benefits and Cash Values Life insurance carriers offer two main benefits to insured individuals when a transfer of risk occurs: death benefit proceeds and cash value savings. Read More » How to Fill Out a W-4 Form A step-by-step guide to filling out the W-4 form so your employer reports your tax withholding correctly to the IRS. Read More » 4 Best Alternatives to Long-Term Care Insurance Learn about long-term care insurance and the types of people who need this coverage, including the four alternatives to long-term care insurance. Read More » Strategies to Help Pay for Eldercare The cost of a nursing home, assisted living facility or home care can be ruinous. Try these routes to help seniors qualify for government assistance and pay the bills. Read More » CONNECT WITH INVESTOPEDIA Email sent to: mondemand.forex@blogger.com To update your newsletter preferences or unsubscribe, click here. 114 West 41st St, floor 8 New York NY 10036 © 2020, Investopedia, LLC, All Rights Reserved | Privacy Policy