Home > Terms > English, UK (UE) > Private mortgage insurance (PMI)
Private mortgage insurance (PMI)
Insurance written by private companies to protect a lender against loss if the borrower defaults on a mortgage. PMI is often required on mortgage loans with less than 20% down payment.
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- Part of Speech: noun
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- Industry/Domain: Real estate
- Category: General
- Company: Coldwell Banker
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