Mortgage Insurance - MoneyTips https://moneytips.com/mortgages/applying/mortgage-insurance/ Finally, money tips that make cents. Wed, 06 Mar 2024 23:02:17 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 Mortgage Protection Insurance: What It Is and Why You Might Consider It https://moneytips.com/mortgages/applying/mortgage-insurance/what-is-mortgage-protection-insurance/ Wed, 01 Jun 2022 13:55:59 +0000 https://moneytips.com/?p=9149 A home offers safety and stability for your family and is probably one of the most important investments you’ll ever make. However, premature death or major disability could leave your family at risk. If you’re the primary income earner, your unexpected death could leave your family struggling to come up with mortgage payments. While no...

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]]> What Is Private Mortgage Insurance (PMI)? https://moneytips.com/mortgages/applying/mortgage-insurance/what-is-pmi/ Thu, 20 Jan 2022 18:49:54 +0000 https://moneytips.com/?p=4159 If you’re faced with the prospect of having to pay private mortgage insurance, it’s natural to feel hesitant about an extra cost on top of your monthly mortgage payment, but PMI isn’t good or bad – it’s a tool. For home buyers, particularly first-time buyers, PMI can be the tool that gets you into a...

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]]> What Is Mortgage Title Insurance? https://moneytips.com/mortgages/applying/mortgage-insurance/what-is-mortgage-title-insurance/ Tue, 18 Jan 2022 19:04:16 +0000 https://moneytips.com/?p=4091 If you’re buying a new home, your mortgage lender will probably require you to purchase mortgage title insurance as part of your closing costs. You may be asking, “How does my house have a title? Is it a member of the royal family? Well, simply put: It’s not that kind of title.   Get ready to...

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]]> What Is a Mortgage Insurance Premium? https://moneytips.com/mortgages/applying/mortgage-insurance/what-is-mortgage-insurance/ Tue, 04 Jan 2022 22:59:43 +0000 https://moneytips.com/?p=3812 You’re here to answer the million-dollar question: What is mortgage insurance? Or maybe you’re here to learn the difference between mortgage insurance premiums (MIPs) and private mortgage insurance (PMI). Either way, you’ve come to the right place.  Rule number one: To differentiate between MIP and PMI, you’ll need to know the different types of mortgage...

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]]> How To Get Rid of PMI Early: 3 Surefire Ways https://moneytips.com/mortgages/applying/mortgage-insurance/how-to-get-rid-of-pmi-early/ Tue, 09 Nov 2021 22:45:53 +0000 https://moneytips.com/?p=2714 Buying your first home is one of the most exciting purchases you may ever make. But, depending on the size of your down payment and the type of loan you get, you may have to pay private mortgage insurance (PMI). PMI is charged on conventional loans when a borrower puts less than 20% down to...

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]]> What Is Mortgage Insurance? MIP vs. PMI https://moneytips.com/mortgages/applying/mortgage-insurance/mip-vs-pmi/ Tue, 06 Jul 2021 17:02:53 +0000 https://moneytips.com/?p=123 A mortgage is a big commitment. When you’re buying a home, your lender wants to know you’re in it for the long haul, and capable of paying for it. For the mortgage lender, a client can show that by making a 20% down payment on the home. Even when 20% down isn’t possible, lenders are...

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