29 TermsHome > Terms > English, UK (UE) > Private mortgage insurance (PMI)
Private mortgage insurance (PMI)
Paid by the borrower to protect the lender in the case of default. PMI is typically charged to the borrower when the Loan-to-Value is greater than 80%.
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- Part of Speech: noun
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- Industry/Domain: Business services
- Category: Relocation
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