Loan: Mortgage Insurance
Mortgage insurance is a type of insurance that protects lenders against losses if borrowers default on their mortgage loans. It is typically required for borrowers who apply for a Conventional loan and make a down payment of less than 20% of the purchase price of their home. There is also a form of mortgage insurance for government-backed loans.
Context: Identifying the document.
Indicates whether it’s a Quote or a Certificate of Mortgage Insurance
Key takeaways: Important information.
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