Money paid to insure the mortgage when the down payment is less than 20 percent. Insurance provided by a non governmental insurer that protects lenders against a loss if a borrower defaults.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). Mortgage Insurance (Private Mortgage Insurance - PMI). Retrieved September 29, 2026, from http://smartdefine.org/mortgage_insurance_(private_mortgage_insurance_-_pmi)/definitions/1158484 |
| Chicago | Barry Goldsmith. 2010. "Mortgage Insurance (Private Mortgage Insurance - PMI)" http://smartdefine.org/mortgage_insurance_(private_mortgage_insurance_-_pmi)/definitions/1158484 (accessed September 29, 2026). |
| Harvard | Barry Goldsmith 2010, Mortgage Insurance (Private Mortgage Insurance - PMI), Smart Define, viewed 29 September, 2026, <http://smartdefine.org/mortgage_insurance_(private_mortgage_insurance_-_pmi)/definitions/1158484>. |
| MLA | Barry Goldsmith. "Mortgage Insurance (Private Mortgage Insurance - PMI)" 21 October 2010. Web. 29 September 2026. <http://smartdefine.org/mortgage_insurance_(private_mortgage_insurance_-_pmi)/definitions/1158484> |