29 August 2012
29 August 2012
Mortgage 101Mortgage default insurance
| Mortgage default insurance (in other words, mortgage loan insurance) serves to protect the mortgage lender if you’re not able to pay off your mortgage. So it doesn’t have anything with protecting you. You have to pay for the mortgage default insurance in case your down payment is less than 20% of the total house price. This type of a mortgage loan is called a high-ratio mortgage… Read more |