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What Is MIP (Home Mortgage Insurance Coverage Premium)?

What Is MIP (Home Mortgage Insurance Coverage Premium)?

Loan provider paid personal home mortgage insurance policy, or LPMI, is similar to BPMI except that it is paid by the loan provider as well as developed into the rates of interest of the mortgage. LPMI is normally a feature of car loans that declare not to require Home loan Insurance for high LTV lendings. Customers wrongly assume that private mortgage insurance coverage makes them unique, yet there are no personal services provided with this sort of insurance.

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