Private mortgage insurance protects the lender against covered default losses. Borrower-paid coverage may be monthly, upfront or split; lender-paid arrangements differ. Insurance does not forgive the borrower’s debt.
PMI
What is PMI and how do you get rid of it?
Why you pay it, how much it costs, and exactly how to remove it.
By Lighthouse Companies, LLC · Updated · 2 min readLighthouse provides educational information, not a personal loan quote, lending decision, or legal or financial advice. Verify the figures against your documents and ask your lender, servicer, or a qualified professional about your circumstances.