1 Best mortgage insurance companies

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Mortgage insurance protects lenders against default on home loans. Mortgage insurance, also known as private mortgage insurance (PMI), protects lenders against losses if a borrower defaults on their home loan. It's typically required for conventional loans when the down payment is less than 20% of the home's value. While it adds to the cost of homeownership, it allows many people to buy homes with smaller down payments. This insurance plays a crucial role in the housing market, making homeownership more accessible to a broader range of buyers.
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