What Is Mortgage Insurance? And Can It Be Avoided?
Mortgage insurance is an insurance that you pay as a borrower that protects the bank or lending institution against any default, so if the loan were to go into foreclosure lender would be insured against any losses.
At NEO Home Loans, we’ve gone to great lengths to find mortgage programs and different mortgage strategies that will enable you to avoid mortgage insurance altogether. Whether you’re in a conventional loan, or a jumbo mortgage loan, or a professional mortgage loan, we encourage you to reach out to your mortgage advisor and discuss different strategies that can either reduce or eliminate all together mortgage insurance premiums, saving you thousands of dollars over the lifetime of your loan and most importantly adding to the wealth that this real estate investment will add up to for you and your family.
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