Real Estate Terms Glossary
What is Private Mortgage Insurance?
We can define private mortgage insurance as a type of mortgage insurance that you may have to pay for if you’ve a conventional loan. It is an insurance policy that protects the lender or bank if a borrower defaults on their home loan.
Note that in many cases, you don’t need PMI once you have made sufficient, timely mortgage payments so that you have enough equity in your property. We can divide PMI into lender-paid private mortgage insurance and borrower-paid private mortgage insurance.
Examples of Private Mortgage Insurance
- Example 1: Split-premium mortgage insurance
- Example 2: Borrower-paid private mortgage insurance
Here’s Investopedia’s definition of Private Mortgage Insurance .
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Maria is a family law attorney dedicated to helping you navigate the complexities of personal and family legal matters with compassion and efficiency. From divorce and child custody disputes to marital agreements and domestic violence cases, Maria provides personalized legal solutions tailored to your unique circumstances. With her extensive knowledge of family law, she strives to protect your rights, advocate for your best interests, and empathetically guide you towards a positive resolution. Trust Maria to be your reliable advocate during these difficult times, ensuring that your family's well-being is safeguarded every step of the way. Let's work together to find the best legal path forward for you and your loved ones.
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Amanda K.
I have strong analytical and oratory skills that will undoubtedly assist in the identification of legal issues and the creation of a strategy that is in the best interest of the client.
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Julius T.
With 20 years of law practice experience, Julius is an accomplished and experienced attorney. Julius provides counsel to individuals, businesses, churches and other nonprofits, ministry leaders, and entertainment and creative artists on matters involving drafting, reviewing, and negotiating contracts; corporate formation and governance; real estate transactions; information technology; employment and human resources concerns, and last wills and testaments. A graduate of Emory University and the University of Georgia School of Law, Julius has notably served as counsel to the Georgia General Assembly (Georgia House of Representatives and Georgia State Senate) and the City of Atlanta / Hartsfield-Jackson Atlanta International Airport. Julius is also a licensed Realtor® and a native Atlantan.
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