| What is mortgage insurance? |
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| This is generally required in one form or another when the down payment is less than 20% and protects the lender in the event of loan default. The lower the down payment, the higher the risk for the lender, and thus the higher the monthly premium. Depending on your particulars, there are ways in which mortgage insurance can sometimes be avoided at purchase, or dropped altogether at some point in the future. |
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