Mortgage Insurance Premium
Definition of "Mortgage Insurance Premium"
The upfront and/or periodic charges that the borrower pays for mortgage insurance. There are different mortgage insurance plans with differing combinations of monthly, annual, and upfront premiums.
Popular Mortgage Terms
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A lender that provides loans through mortgage brokers or correspondents. ...
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A documentation requirement where the applicant's income is not disclosed. ...
The initial interest rate on an ARM, when it is below the fully indexed rate. ...
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