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What Is Mortgage Insurance Coverage?

What Is Mortgage Insurance Coverage?

You don't pick the home loan insurer and also you can not bargain the premiums. Simply put, when buying or refinancing a house with a traditional home mortgage, if the loan-to-value (LTV) is above 80% (or equivalently, the equity position is much less than 20%), the consumer will likely be needed to carry personal mortgage insurance policy. It sounds unAmerican, but that's what occurs when you obtain a home loan that exceeds 80 percent loan-to-value (LTV).

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