WHY DO I NEED MORTGAGE INSURANCE
WHAT IS MORTGAGE INSURANCE
PMI is Private Mortgage Insurance this insurance is required when your home is financed via FHA. The homeowner has to pay the insurance premium on the mortgage insurance. This insurance covers the mortgage if the homeowner passes away (dies); then the bank owns the home free and clear. **PLEASE NOTE*** Not the family owns the home, but the bank. This is why you need your own mortgage insurance so that when the homeowner passes away your family can keep the family home in the family. Call us, Stop by or Email us today for more information.