Skip to content

SuperMoney: Budgeting AI

Financial calm, Finally.

Get
Home

Private Mortgage Insurance

Private mortgage insurance (PMI) is a type of insurance that protects a lender in the event that a borrower defaults on a mortgage loan. This type of insurance is typically required for borrowers who make a down payment of less than 20% of the purchase price of a home. Continue Reading Below

Content Types

  • Encyclopedia
  • Articles
  • About Topic

Related Topics

Encyclopedia Articles

Discover the definition of financial terms related to private mortgage insurance.

Real Estate Appraisal: How It Works, What It Costs, and What to Do If It Comes in Low Thumbnail

Real Estate Appraisal: How It Works, What It Costs, and What to Do If It Comes in Low

Andrew Latham

What Is Private Mortgage Insurance (PMI)? Thumbnail

What Is Private Mortgage Insurance (PMI)?

Andrew Latham

Loan to Value (LTV): Definition, How It's Calculated, and Why It Matters Thumbnail

Loan to Value (LTV): Definition, How It's Calculated, and Why It Matters

Andrew Latham

What is a First Mortgage? Thumbnail

What is a First Mortgage?

Jamela Adam

What Is a Piggyback Loan (80/10/10 Mortgage) and How Does It Work? Thumbnail

What Is a Piggyback Loan (80/10/10 Mortgage) and How Does It Work?

Andrew Latham

High-Ratio Loans: Definition, Calculation, and Practical Examples Thumbnail

High-Ratio Loans: Definition, Calculation, and Practical Examples

Alessandra Nicole

The Homeowners Protection Act: Understanding Its Impact, Termination Process, and Pros & Cons Thumbnail

The Homeowners Protection Act: Understanding Its Impact, Termination Process, and Pros & Cons

Abi Bus

Demystifying Up-Front Mortgage Insurance (UFMI) - What You Need to Know Thumbnail

Demystifying Up-Front Mortgage Insurance (UFMI) - What You Need to Know

Alessandra Nicole

Mortgage Insurance Explained With Examples Thumbnail

Mortgage Insurance Explained With Examples

Dan Agbo

80-10-10 Mortgages: A Closer Look with Examples and Benefits Thumbnail

80-10-10 Mortgages: A Closer Look with Examples and Benefits

Silas Bamigbola

Page 1 of 2

12Next

Learn About Private Mortgage Insurance

Thumbnail for Blog Article: How Much Down Payment Do You Need for a House in 2026?

How Much Down Payment Do You Need for a House in 2026?

Andrew Latham

Thumbnail for Blog Article: How Much Down Payment for a $500,000 House?

How Much Down Payment for a $500,000 House?

Andrew Latham

Thumbnail for Blog Article: Mortgagee vs Mortgagor: What's the Difference?

Mortgagee vs Mortgagor: What's the Difference?

Benjamin Locke

Thumbnail for Blog Article: How to Calculate Your Monthly Mortgage Payment

How to Calculate Your Monthly Mortgage Payment

SuperMoney Team

Thumbnail for Blog Article: How Much Mortgage Can I Qualify For?

How Much Mortgage Can I Qualify For?

Jessica Walrack

Thumbnail for Blog Article: Piggyback Loan vs. Second Mortgage: What’s the Difference?

Piggyback Loan vs. Second Mortgage: What’s the Difference?

Andrew Latham

Page 3 of 4

Previous1234Next

About Private Mortgage Insurance

Private mortgage insurance (PMI) is a type of insurance that protects a lender in the event that a borrower defaults on a mortgage loan. This type of insurance is typically required for borrowers who make a down payment of less than 20% of the purchase price of a home. PMI can help to protect the lender against losses resulting from a default, and can also allow borrowers with less than a 20% down payment to qualify for a mortgage loan. PMI premiums are typically paid by the borrower as part of their monthly mortgage payment.