Mortgage Insurance
Helps protect your home investment by covering your loan in case of unexpected circumstances. We’ll help you secure reliable coverage that fits your needs, at a price you can afford.
What is Mortgage Insurance?
Mortgage insurance is a type of insurance that protects the lender—not you—if you stop making payments on your home loan.
When a borrower makes a smaller down payment, the lender takes on more risk because there is less equity in the property. Mortgage insurance helps reduce that risk by providing financial protection to the lender in case the borrower defaults. This added security is what allows lenders to offer loans to buyers who may not have a full 20% down payment saved.
Although it increases your monthly mortgage cost, mortgage insurance can make homeownership more accessible by lowering the upfront cash required to purchase a home. In many cases, once you build enough equity in your home, you may be able to remove this cost, depending on the type of loan you have.
Contact us to learn more about the right mortgage insurance for you.