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	Cost of Private Mortgage Insurance
		For a mortgage with a loan-to-value ratio of 95% (a down-payment of 5%), a typical monthly PMI premium is 0.78%/12 of the initial mortgage amount.
		The premium paid for PMI is determined solely by the amount of the mortgage and the size of the down-payment made by the mortgagor.
		Issues such as mortgage terms, PMI premiums, the individual's financial condition, and his or her preferences towards such things as liquidity and risk must be considered before determining the attractiveness of an additional investment in home equity.
	www.westga.edu /~bquest/1997/costof.html (3340 words)

	Private Mortgage Insurance
		Private mortgage insurance puts people in homes; mortgage life insurance pays all or a portion of your mortgage in the event of your death.
		Mortgage insurance can usually be canceled by the home buyer after he or she has at least 20 percent equity in the home.
		FHA insurance lasts for the life of the loan, unlike private mortgage insurance which is cancelable in most circumstances.
	www.richardheymann.com /pmi.htm (807 words)

	[No title]
		Private mortgage insurance or MI is a type of insurance provided by a private mortgage insurance company to protect a lender in the event of default on a loan.
		The borrower pays for mortgage insurance on a monthly basis in addition to the principal and interest payments that are made on a loan.
		While mortgage insurance premium payments are not tax deductible, the interest associated with a self-insured mortgage would be fully tax deductible.
	realestatelistingforsale.mpb.homes.com /content/articles/pmi.html (550 words)

	Private mortgage insurance (PMI) information and private mortgage insurance advice
		Private Mortgage Insurance (PMI) is required on all loan transactions where the loan-to-value ratio is 80 percent or greater.
		Private Mortgage Insurance insures the lender - not you - against your default on the loan.
		Private Mortgage Insurance is of concern to the borrower because, unlike mortgage interest, PMI is not tax deductible.
	www.moving.com /Mortgage_and_Finance/MAI_Article/private_mortgage_insurance (723 words)

	Why Do I Need to Pay Private Mortgage Insurance?- Quicken Loans (Site not responding. Last check: 2007-10-16)
		Private mortgage insurance (PMI) is also known in different parts of the country as mortgage insurance, mortgage protection insurance (MPI), and Mortgage Insurance Protection (MIP).
		Private mortgage insurance is protection for the lender against a borrower defaulting on the loan.
		The benefit to you is that mortgage interest is tax-deductible* whereas private mortgage insurance is not.
	www.quickenloans.com /mortgage-news/article/411.html (688 words)

	Private Mortgage Insurance
		Private mortgage insurance makes it possible for a homebuyer to obtain a mortgage with a down payment as low as 5% and for low-to-moderate income homebuyers as low as 3%.
		Mortgage insurance allows borrowers to purchase a more expensive home than they might otherwise be able to afford.
		Mortgage insurance should not be confused with mortgage life insurance, which is designed to pay off a mortgage in the event of the borrower's death.
	www.mortgage-x.com /library/PMI.htm (441 words)

	Private Mortgage Insurance
		However, with private mortgage insurance, people are now able to afford owning their own home in half the time.
		One thing to note is that the premium for private mortgage insurance is based entirely on the amount of the mortgage and the size of the down payment-that is, the insurer does not account for a borrower's financial stability or their risk of default relative to someone else's.
		The private insurance company that issues the private mortgage insurance can be considered a mortgage holder because the insurance can essentially be viewed as a second mortgage that the homeowner is paying.
	www.oneminutemillionaire.com /affiliate/glossary/private-mortgage-insurance.asp (457 words)

	Private Mortgage Insurance
		Private mortgage insurance makes it possible for a homebuyer to obtain a mortgage with a down payment as low as 5% and for low-to-moderate income homebuyers as low as 3%.
		Private mortgage insurance may be also required when buying a second home or refinancing an existing mortgage with cash out.
		Mortgage insurance should not be confused with mortgage life insurance, which is designed to pay off a mortgage in the event of the borrower's death.
	mortgage-x.com /library/PMI.htm (538 words)

	What's "private mortgage insurance?"
		Private mortgage insurance, or Private MI as it is called, is required if you put less than 20% down on your home purchase.
		Private MI would pay the lender the difference between the mortgage loan balance and the money the lender collects on the sale.
		The lender must cancel mortgage insurance if 22 percent equity is reached, but this is based solely on principal payments, which accrue slowly.
	forum.interest.com /tm.asp?m=19&mpage=1&key= (387 words)

	Avoiding Private Mortgage Insurance
		Private mortgage insurance protects the lender against a financial loss if you should fail to repay your mortgage.
		Generally, you will be required to pay the cost of this insurance until you achieve 20 percent equity in your property (as determined by the current appraised value of the home).
		Lender-paid mortgage insurance is often a good idea if you think you might move or refinance within ten years, or if you are making a down payment of 15 percent or less on your home.
	www.neamb.com /lifeplan/homelive/hb_pmi.jsp (317 words)

	Private Mortgage Insurance
		Private Mortgage Insurance is a type of insurance that helps protect lenders against losses due to foreclosure.
		Private Mortgage Insurance also enables lenders to grant loans that would otherwise be considered too risky to be purchased by third party investors like the Federal National Mortgage Association (FNMA) and the Federal Home Loan Mortgage Corporation (FHLMC).
		The mortgage policy of title insurance is usually issued after the mortgage or deed of trust has been properly executed and recorded.
	newamsterdammortgage.com /insurance.html (1890 words)

	Private Mortgage Insurance
		Private Mortgage Insurance or PMI is insurance that protects the lender in case a buyer defaults on a loan.
		The maximum loan amounts FHA insurance will cover are geared to the prevailing values in an area but typically do not exceed $125,000.
		The change is lower for a fixed rate mortgage than for an adjustable rate mortgage.
	www.mainely-realestate.com /html/private_mortgage_insurance_.html (726 words)

	Private Mortgage Insurance
		Private mortgage insurance or MI is a type of insurance provided by a private mortgage insurance company to protect a lender in the event of default on a loan.
		The borrower pays for mortgage insurance on a monthly basis in addition to the principal and interest payments that are made on a loan.
		While mortgage insurance premium payments are not tax deductible, the interest associated with a self-insured mortgage would be fully tax deductible.
	www.newhomesmortgage.com /faq/pmifaq.htm (512 words)

	Private Mortgage Insurance : PMI Insurance
		Private Mortgage Insurance is an insurance to protect the lender against the borrower's default.
		Mortgage insurance benefits homebuyers as lenders are now willing to offer mortgage loans with very low down payment.
		Private mortgage insurance rates are paid by borrower on a monthly basis along with the principal and interest payments on the loan.
	www.mortgages-expo.com /mortgage_insurance.html (599 words)

	Private Mortgage Insurance (PMI)
		The 90 percent loan is financed with a first mortgage equal to 80 percent of the sale price, and a second mortgage for the remaining 10 percent of the sale price.
		The second mortgage has a higher interest rate but since it applies to only 10 percent of the total loan, the monthly payments on the two mortgages are still lower than paying one mortgage with mortgage insurance.
		The first mortgage is $80,000 at 7.50 percent, which comes to a monthly payment of $559.
	www.bankrate.com /brm/news/mtg/20010601b.asp (651 words)

	Private Mortgage Insurance (PMI)
		However, lenders will approve a mortgage with a smaller down payment if the mortgage is covered by private mortgage insurance.
		Private mortgage insurance is insurance that protects a lender in the event that a homeowner defaults on a loan.
		Lenders generally require mortgage insurance on low downpayment loans because experience and studies show that a borrower with less than 20 percent invested in a house is more likely to default on a mortgage.
	www.imcfunding.com /library/mortgageinsurance.html (134 words)

	FAQ > Private Mortgage Insurance
		Private mortgage insurance is insurance that home buyers are typically required to buy if their down payment is low.
		In general, private mortgage insurance for a loan originated on or after July 29, 1999, that is secured by the borrower's one-family principal residence or second home will be cancelled at the borrower's request when the loan-to-value ratio (LTV) reaches 80 percent based on the value of the home at loan origination.
		If the borrower does not request private mortgage insurance cancellation, the servicer must automatically cancel private mortgage insurance on these loans when the LTV is scheduled to reach 78 percent, based on the value of the home at loan origination, provided that the loan is current at that time.
	www.fanniemae.com /faq/231001i.jhtml?p=FAQ (299 words)

	Private mortgage insurance
		The cost of private mortgage insurance tends to vary depending on the size of your down payment, the type of mortgage and the amount of coverage your lender requires.
		The advantage of private mortgage insurance is that it enables you to purchase a home with a lower down payment than would otherwise be possible.
		It may be possible to finance the private mortgage insurance if you are willing to accept a higher interest rate on your mortgage, instead of paying the premium as a separate monthly fee.
	www.lendingtree.com /cec/lendingtreeandyou/onthemoney/pmi.asp?esourceid=27490&source=27490 (635 words)

	Private Mortgage Insurance
		Private mortgage insurance is a type of insurance that helps protect the mortgage company against losses due to foreclosure.
		This protection is provided by private mortgage insurance companies and allows mortgage companies to accept lower down payments than would normally be allowed.
		Private mortgage insurance also enables mortgage companies to grant loans that would otherwise be considered too risky to be purchased by third party investors like the Federal National Mortgage Association (FNMA) and the Federal Home Loan Mortgage Corporation (FHLMC).
	www.mortgage101.com /Articles/Insurance.asp?ArticleID=1132&p=mtg101 (115 words)

	Private Mortgage Insurance
		Low down payment mortgages are somewhat risky for lenders because people are more likely to default on a loan in which they have very little money invested.
		Lenders generally require us to purchase private mortgage insurance (PMI) if you are borrowing more than 80 percent of the value of the home you are purchasing (i.e., your down payment is less than 20 percent).
		Moreover, the insurance company may be able to seek recourse against you for any default claim they pay to your lender.
	www.agencyinfo.net /iv/homeowners/other-types/pmi.htm (506 words)

	Private Mortgage Insurance
		The PMI premiums are paid by the borrower and the policies are provided by private mortgage insurance companies.
		Mortgage life insurance protects your home and family by paying all or a portion of your mortgage in the event of your death.
		In 1998, a borrower could finance a single lump-sum mortgage insurance premium as part of the loan amount.
	www.mortgagetrustusa.com /pmi.html (338 words)

	Private Mortgage Insurance
		Private Mortgage Insurance (also known as “PMI” or “Mortgage Insurance” or “MI”) is a type of insurance applicable to Conventional mortgage loans that protects the lender against losses due to foreclosure.
		Compared to FHA and VA loans, where the insurance is provided by the Federal government, MI is provided by private insurance companies, hence the name.
		Under this option, the premium is included in the monthly mortgage payment that the borrower pays to the mortgage lender, and the lender passes this amount through to the insurance company.
	www.reedmc.com /private_mortgage_insurance.htm (584 words)

	Private Mortgage Insurance (Site not responding. Last check: 2007-10-16)
		For a fixed-rate mortgage, the date when the principal balance, based on the initial amortization schedule, irrespective of the outstanding balance, is first scheduled to reach 78 percent of the original value.
		For an adjustable-rate mortgage, the date when the principal balance, based on the amortization schedule for that mortgage, irrespective of the outstanding balance, is first scheduled to reach 78 percent of the original value.
		If PMI was required for any residential mortgage entered into prior to the effective date of the Act, the servicer must provide an annual written statement that the borrower may cancel PMI in certain circumstances.
	www.pcua.coop /compliance/regissues/pmi_summary.htm (1174 words)

	Private Mortgage Insurance
		It is believed that 40% of new homeowners buy private mortgage insurance and that many or most of those insurance policies are terminated by the lender once the loan balance is reduced enough to provide sufficient equity in the house.
		The HPA does not apply to existing mortgages, although disclosures to all borrowers are required annually, notifying them that they may be able to cancel their insurance.
		Private mortgage insurance premiums are a finance charge under Regulation Z. The regulation requires creditors to include a premium amount in the finance charge that reflects how long the creditor will require the insurance.
	www.bankersonline.com /articles/v04n01/v04n01a2.html (870 words)

	Private Mortgage Insurance (Site not responding. Last check: 2007-10-16)
		Private mortgage insurance (PMI) is insurance that protects a lender or investor against loss if a borrower stops making mortgage payments.
		The qualifying process for loans covered by mortgage insurance is similar to that for regular mortgage loans.
		Private mortgage insurance is the private sector alternative to the Federal Housing Administration mortgage insurance, which is a government program backed by taxpayers.
	www.alliemae.org /pmi.html (1109 words)

	Private (Site not responding. Last check: 2007-10-16)
		The Bureau regulates approximately private 3,000 schools serving an detectives and private investigators.
		The duties of private detectives and investigators depend on the needs of their client.
		Many companies have facilities spread out across the country or around the private world, and there is one thing that all of them need: A way to maintain fast, secure and reliable communications wherever their offices are.
	brandoras.wagoo2.com /calculate-private-mortgage-insurance.html (523 words)

	Private Mortgage Insurance (PMI) and Quicken Loans (Site not responding. Last check: 2007-10-16)
		Private mortgage insurance insures the lender against default and can be costly for you.
		Private Mortgage Insurance (also referred to as mortgage protection insurance on the West Coast) is a costly insurance premium that the borrower pays to protect the lender in case he defaults on the loan.
		Mortgage protection insurance increases your monthly payment and may be tax-deductible (please check with your tax advisor).
	www.quickenloans.com /mortgage/articles/private-mortgage-insurance.html (513 words)

	Private Mortgage Insurance (PMI) (Site not responding. Last check: 2007-10-16)
		Mortgage companies have found that those with less that 20% equity are more likely to default on a mortgage.
		The good news is that PMI allows homeowners to get into a house at good mortgage rates with less than 20% down.
		The purpose of PMI is to pay the mortgage company if the homeowner defaults on the mortgage.
	www.coloradohouse.net /mortgage/mortgage_insurance.htm (651 words)

	All about Private Mortgage Insurance Removal
		Mortgage insurance is a type of guarantee that helps protect lenders against the costs of foreclosure.
		The decision on when to cancel the private insurance coverage does not depend solely on the degree of your equity in the home.
		The final say on terminating a private mortgage-insurance policy is reserved jointly for the lender and any investor who may have purchased an interest in the mortgage.
	www.appraisercentral.com /1998Act.htm (4420 words)

	Private Mortgage Insurance (PMI) - Cancellation and Automatic Termination
		The PMI Act applies to home mortgages signed on or after July 29, 1999 for the purchase, initial construction, or refinance of a single-family home that is the primary residence of the borrower.
		If you signed your mortgage before July 29, 1999, you can ask to have the private mortgage insurance canceled once you exceed 20 percent equity in your home, but federal law does not require your lender or mortgage servicer to cancel the insurance.
		For high risk loans, mortgage lenders or servicers are required to cancel PMI coverage automatically when you reach 23 percent equity in your home, provided you are current on your loan.
	www.mortgagesfinancingandcredit.org /mortgages/private-mortgage-insurance/pmi-cancellation-termination1.htm (574 words)

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