Mortgage insurance premium
Definition
The up-front and/or periodic charges that the borrower pays for mortgage insurance. There are different mortgage insurance plans with differing combinations of up-front, monthly and annual premiums. The most widely used premium plan is a monthly charge with no upfront premium. For a sample of monthly premiums, see Sample Mortgage Insurance Premiums.
Related Terms Other terms related to 'Mortgage insurance premium' starting with the letter 'M' Mortgage broker, Maximum lock, Monthly total expenses, Mortgage, Maturity
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