Mortgages

Private Mortgage Insurance (PMI)

Insurance required on conventional loans with less than 20% down payment, protecting the lender if you default. PMI can be canceled once you reach 20% equity.

Related Terms

Down Payment
Loan-to-Value Ratio (LTV)
Mortgage

Related Calculators

PMI Calculator
Mortgage Calculator

Understanding Private Mortgage Insurance (PMI)

Private Mortgage Insurance (PMI) is a key concept in mortgages. Understanding this term helps you make more informed financial decisions. Use our related calculators above to see how private mortgage insurance (pmi) affects your specific situation.