Sentences with phrase «protected if a borrower defaults on the loan»
The lender is protected if a borrower defaults on the loan, and the borrower is protected if the lender goes out of business or the loan balance exceeds the value of the home.
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A legally binding Loan Agreement not only maps out the terms of the loan, but it also protects you if the borrower defaults on the loan.
The lender is protected if a borrower defaults on the loan, and the borrower is protected if the lender goes out of business or the loan balance exceeds the value of the home.
Private mortgage insurance (PMI) is an actual insurance policy that the lender takes out to protect themselves if the borrower defaults on the loan.
Not exact matches
Private mortgage insurance (PMI)-- Protects the lender against a loss if a borrower defaults on the loan.
Private Mortgage Insurance (PMI) is a part of the loan payment and protects the lender if a borrower defaults on a home loan.
Borrowers with FHA loans pay for mortgage insurance, which protects the lender from a loss if the borrower defaults on the loan.
While the borrower pays the premium — which can add thousands of dollars to the cost of buying a home — the insurance actually protects the lender if the borrower defaults on the loan.
The insurance protects the lender (not the borrower) if a borrower defaults on the loan.
FHA mortgage insurance protects the lender (not the borrower) if a borrower defaults on the FHA loan.
PMI is a specialized insurance policy provided by private insurance companies that protects a lender from financial loss if a borrower defaulted on their loan.
(Private Mortgage Insurance) PMI is a specialized insurance policy provided by private insurance companies that protects a lender from financial loss if a borrower defaulted on their loan.