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 October 2, 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 October 2, 2026). |
| Harvard | Barry Goldsmith 2010, mortgage insurance (private mortgage insurance - pmi), Smart Define, viewed 2 October, 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. 2 October 2026. <http://smartdefine.org/mortgage_insurance_(private_mortgage_insurance_-_pmi)/definitions/1158484> |