Sentences with phrase «insurance protects lenders in the case»

Mortgage insurance protects the lender in case the borrower defaults on the mortgage, while benefiting the borrower by allowing very little down payment or equity.

This insurance protects the lender in case you default on your mortgage.

This insurance protects your lender in case you stop making your monthly mortgage payments.

Private mortgage insurance protects lenders in the case that borrowers default on their mortgage.

Private mortgage insurance protects your lender in case you default on your home loan — and you have the privilege of paying for that protection.

a) FHA loan (a conforming loan that is insured by the federal government; this insurance protects the lender in case you default.)

Not exact matches

Called FHA Mortgage Insurance Premium (MIP), this fee is a type of insurance that protect lenders against loss in case the home buyer can't make theInsurance Premium (MIP), this fee is a type of insurance that protect lenders against loss in case the home buyer can't make theinsurance that protect lenders against loss in case the home buyer can't make the payment.

This insurance will protect both you and your lender from suffering a financial catastrophe in the case of a fire or other damage to the home you have purchased.

While property insurance (aka homeowner's insurance) protects you in case of damage to your property, mortgage insurance is in place to protect the lender.

Borrowers with FHA loans for mortgage insurance protecting the lender from loss in case borrowers default on the loan.

As an FHA loan, there is insurance required for two reasons: to protect the lender in case of borrower default and to ensure that the borrower continues to receive payments for the duration of the loan no matter what happens to the lender.

As a borrower you would need to pay mortgage insurance to protect the interest of the lenders in case of defaults.

Conventional mortgage loans and FHA loans are two of the most popular types of home financing available, and their major difference comes down to insurance — FHA loans are backed by the government, meaning your lender is protected in the case that you default, whereas conventional loans do not provide the same security.

If a 20 percent down payment is not made, lenders usually require the homebuyer to purchase private mortgage insurance (PMI) to protect the lender in case the homebuyer fails to pay.

If your loan is greater than 80 percent of the value of the property, you will probably have to pay for mortgage insurance that protects the lender in case you default.

Because mortgages with smaller down payments pose a greater risk for the lender, they require the borrower to pay for mortgage insurance, which protects the lender in case of default.

Homeowners» Insurance: Required for all mortgage loans, protects the home from damage and theft Owner's Title Insurance: Optional policy ensuring the title will not be subject to a claim of ownership, lien or other encumbrance Private Mortgage Insurance (PMI): Required by most lenders when the down payment is less than 20 % Federal Housing Administration (FHA) Mortgage Insurance Premium: Required on all FHA loans Mortgage Life Insurance: Optional policy that protects family and estate by paying off the loan in case of death Disability Insurance: Optional policy that guarantees loan payments will be made in case of disability

The main idea of this insurance is to protect you and your lender in case you have no ability to cover the loan.

By putting down at least 20 %, you'll also avoid the need for private mortgage insurance (PMI), which is designed to protect the lender in case you default.

This insurance protects lenders from incurring a loss in case you are unable to make monthly payments

Therefore, because lenders are protected in the case of default with this insurance, FHA loans typically have far more attractive terms for borrowers, such as lower down payments, reduced closing costs, and less rigid credit qualifications.

Mortgage default insurance Mortgage default insurance (sometimes called mortgage loan insurance) protects the mortgage lender in case you are not able to make your mortgage payments.

Private mortgage insurance (PMI) is an insurance that protects lenders in case of a borrower default.

MORTGAGE DEFAULT INSURANCE A type of insurance which protects the mortgage lender in case the borrower defaults on the mortgage INSURANCE A type of insurance which protects the mortgage lender in case the borrower defaults on the mortgage insurance which protects the mortgage lender in case the borrower defaults on the mortgage payments.

Typically, if you put down less than 20 % on a property, your lender will also require you to pay for private mortgage insurance (PMI) which protects the lender in case you default.

Called FHA Mortgage Insurance Premium (MIP), this fee is a type of insurance that protect lenders against loss in case the home buyer can't make theInsurance Premium (MIP), this fee is a type of insurance that protect lenders against loss in case the home buyer can't make theinsurance that protect lenders against loss in case the home buyer can't make the payment.

This insurance policy protects your lender in case the title insurance company made a mistake in its title search and you later discover that there are liens against your home.

Some require mortgage insurance — the premiums you pay protect the lender in case you default.

A type of insurance that protects the lender in case the borrower stops making monthly payments.

Homeowners insurance is a contract that protects both you and your lender in case of loss or damage to your property.

Therefore, lenders require that applicants purchase an insurance policy that protects the lenders» interests in case the homeowners default on their loans.

Mortgage default insurance is mandatory coverage that protects a lender in case a borrower stops making payments or defaults on a loan.

Business insurance is generally not mandatory unless you have taken out a large loan for your business, in which case your lender may require you to protect your business collateral with a policy.

In some cases, if you have taken out a large business loan or a mortgage on the building in which your business is owned, your lender may require you to carry a comprehensive commercial insurance policy to protect your business for the life of the loaIn some cases, if you have taken out a large business loan or a mortgage on the building in which your business is owned, your lender may require you to carry a comprehensive commercial insurance policy to protect your business for the life of the loain which your business is owned, your lender may require you to carry a comprehensive commercial insurance policy to protect your business for the life of the loan.

Typically, lenders require this insurance, along with liability and collision insurance, in order to have the asset protected in case of a total loss.

The lenders will not discuss the case, but they argue in court documents that their need to protect their investment overrides the landlord's objection to insurance cost.

Private mortgage insurance (PMI) is an insurance that protects lenders in case of a borrower default.

In cases where the sale of the home is not enough to pay back the reverse mortgage, the insurance protects the borrower or estate from owing more than the sale price by covering losses incurred by the lender.

Your lender usually requires this type of insurance that protects its interest in the loan in the case of a title defect and is known as a loan policy.

So, to protect lenders against potential loss in case of default, higher LTV loans (80 % or more) usually require a mortgage insurance policy.

If a 20 percent down payment is not made, lenders usually require the home buyer to purchase private mortgage insurance (PMI) to protect the lender in case the home buyer fails to pay.

If a 20 % down payment is not made, lenders usually require the home buyer to purchase private mortgage insurance (PMI) to protect the lender in case the home buyer fails to pay.

Also referred to as PMI, it is insurance you pay to protect the lender in case you default on the home loan.

A borrower buys private mortgage insurance to protect the lender in case of default.

This insurance will protect both you and your lender from suffering a financial catastrophe in the case of a fire or other damage to the home you have purchased.

Private Mortgage Insurance (PMI) If you apply for a conventional loan and your down payment is below 20 percent, your lender will require you to buy PMI, which protects the lender in case you end up in foreclosure.