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2. Private mortgage insurance (PMI): What it is and how it works

   www.aol.com/finance/private-mortgage-insurance...

   Loan servicers must cancel PMI once you reach a 78 percent LTV ratio, based on the home’s original appraised value, or halfway through your loan’s term (15 years into a 30-year mortgage, for ...

3. Mortgage insurance vs homeowners insurance: what’s the ...

   www.aol.com/finance/mortgage-insurance-vs...

   Use a Veterans Affairs (VA) loan: If you qualify for a loan through the Department of Veterans Affairs, you may be able to get a mortgage without a down payment and avoid paying PMI. Use a USDA ...

4. Lenders mortgage insurance - Wikipedia

   en.wikipedia.org/wiki/Lenders_mortgage_insurance

   Lenders mortgage insurance (LMI), also known as private mortgage insurance (PMI) in the US, is a type of insurance payable to a lender or to a trustee for a pool of securities that may be required when taking out a mortgage loan. Its purpose is to offset losses in the case where a mortgagor is not able to repay the loan and the lender is not ...

5. What is a mortgage? A definitive guide for aspiring homeowners

   www.aol.com/finance/mortgage-definitive-guide...

   Private mortgage insurance (PMI) is a form of insurance taken out by the lender but typically paid for by you, the borrower, when your loan-to-value (LTV) ratio is greater than 80 percent (meaning ...

6. Mortgage insurance - Wikipedia

   en.wikipedia.org/wiki/Mortgage_insurance

   Borrower paid private mortgage insurance, or BPMI, is the most common type of PMI in today's mortgage lending marketplace. BPMI allows borrowers to obtain a mortgage without having to provide 20% down payment, by covering the lender for the added risk of a high loan-to-value (LTV) mortgage.

7. Mortgage protection insurance: What it is and when you might ...

   www.aol.com/finance/mortgage-protection...

   PMI doesn’t protect you, however — it protects the mortgage lender if you were to stop paying back your loan. There’s yet another acronym: MIP, which stands for mortgage insurance premium ...

8. Home Affordable Refinance Program - Wikipedia

   en.wikipedia.org/wiki/Home_Affordable_Refinance...

   Having PMI attached to a loan made that loan easier to sell on the Wall Street secondary market as a "whole loan". PMI hedged the risk brought by the high loan-to-value ratio by offering insurance against foreclosure for whoever owned the "whole loan". Although HARP 2.0 allows homeowners with PMI to apply through the Making Home Affordable ...

9. What are the monthly payments on a $500,000 mortgage? - AOL

   www.aol.com/finance/500000-mortgage-payment...

   Based on the 28% rule, your household should aim for a monthly before-tax income of $12,696 — or an annual gross income of about $152,352 ($12,696 x 12) — to comfortably afford a $500,000 ...