FAQ

Frequently Asked Questions & Glossary of Terms

Here are a few of the questions we get the most, along with a 
glossary of terms. If you do not see what you are looking for please
reach out to us via phone (800) 806-3639, email [email protected],
or chat using the green chat bubble in the lower right corner of the page..

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  • WHAT IS MORTGAGE INSURANCE?

    A type of insurance that protects the lender in the event a borrower defaults on their mortgage payments. Mortgage Insurances is typically required when a borrower puts down less than 20% of the purchase price. Private lenders will usually require what's called Private Mortgage Insurance (PMI) because the loan is not federally guranteed. Non-conventional FHA and USDA loans will require mortgage insurance regardless of the downpayment amount.