Private mortgage insurance (PMI)
Private mortgage insurance (PMI)
It serves to protect lenders against defaults or losses from borrowers. Borrowers are required to carry Private Mortgage Insurance if their loan has loan -to-value percent higher than 80%. Depending on the type of loan the borrower will have to pay an initial premium and a monthly premium.
Find Mortgage Rates
National Rates
| Loan Type | Today |
|---|---|
| 30 yr fixed |
5.03 |
| 15 yr fixed |
4.58 |
| 5/1 ARM | 3.99 |
Rates may contain points
