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WHAT IS PMI PRIVATE MORTGAGE INSURANCE DEFINITION GLOSSARY BASIC INFORMATION 101 LEARNING FINANCIAL EDUCATION

 

 
 

PMI - PRIVATE MORTGAGE INSURANCE

 

Private Mortgage Insurance, or PMI, is usually required by mortgage lenders when you purchase a house without making at least a 20% down payment.

 

This insurance is used to pay the lender in case of loan default.

 

  

 

 

 

 

 

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 Private Mortgage Insurance Definition.  For further mortgage resources see our site for Classroom Teaching and Learning Money - Personal Finance - Money Management Life Skills - Worksheets - Lessons - Lesson Plans - Free Elementary Activities - Informational Articles - Exercises - Themes - Ideas - Basics - Mortgage Education.

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