A form of insurance required by a lender when the borrower’s down payment or home equity percentage is less than 20 percent of the home value. This insurance partially protects the lender if the borrower defaults on the loan.
Real Estate Glossary : Terms and Definitions
A form of insurance required by a lender when the borrower’s down payment or home equity percentage is less than 20 percent of the home value. This insurance partially protects the lender if the borrower defaults on the loan.
Real Estate Dictionary · Copyright © 2012 · Privacy · XML Sitemap