Who pays for private mortgage insurance on a mortgage?
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PMI protects the lender from the risk of loss if you default on your mortgage, and the premiums are typically paid monthly by the borrower. In many cases, PMI is no longer required once the borrower has made enough timely mortgage payments such that the borrower has sufficient equity in the property.
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PMI protects the lender from the risk of loss if you default on your mortgage, and the premiums are typically paid monthly by the borrower. In many cases, PMI is no longer required once the borrower has made enough timely mortgage payments such that the borrower has sufficient equity in the property.
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