Private mortgage insurance (pmi) is used when a borrower has less than 20% down or home equity in their property. PMI insures the lender in the event of a borrower defaulting on a mortgage–it does not provide insurance to the home owner.
Helping Washington State homeowners learn more about their mortgage options.
About the Author
Rhonda Porter is a Licensed Mortgage Originator MLO121324 living in the greater Seattle area. Rhonda began her career in 1986 in the title and escrow industry and joined Mortgage Master Service Corporation as a Loan Officer in 2000 and began blogging in 2006. Read More…
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