1.0EMM Loanshttps://emmloans.comBrad Millerhttps://emmloans.com/blog/author/bmiller/What You Need to Know About Mortgage Insurancerich600338<blockquote class="wp-embedded-content" data-secret="fM3jj3ToeP"><a href="https://emmloans.com/blog/what-you-need-to-know-about-mortgage-insurance/">What You Need to Know About Mortgage Insurance</a></blockquote><iframe sandbox="allow-scripts" security="restricted" src="https://emmloans.com/blog/what-you-need-to-know-about-mortgage-insurance/embed/#?secret=fM3jj3ToeP" width="600" height="338" title="“What You Need to Know About Mortgage Insurance” — EMM Loans" data-secret="fM3jj3ToeP" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe><script>
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https://emmloans.com/wp-content/uploads/2021/11/needtoknowaboutmortgage.jpg739604If you purchase a home with a down payment that is less than 20% of the purchase price, you will likely need to purchase mortgage insurance. In fact, if you signed an FHA or USDA mortgage, you are likely required to have mortgage insurance. While mortgage insurance will increase the cost of your loan, you will usually only have to pay it until the equity in your home reaches 20% or until you refinance. What is Mortgage Insurance? Mortgage insurance is taken out to protect your lender’s investmen