May 14, 2024 · Mortgage insurance, no matter what kind, protects the lender – not you – in the event that you fall behind on your payments. If you fall behind, your credit score could suffer and you can …

Aug 28, 2023 · Private mortgage insurance (PMI) is a type of mortgage insurance you might be required to buy if you take out a conventional loan with a down payment of less than 20 percent of the …

Dec 28, 2022 · Homeowners insurance is also sometimes referred to as "hazard insurance." Borrowers with a HECM loan are required to maintain homeowners insurance in addition to the mortgage …

Jun 30, 2025 · The Federal Housing Administration (FHA) administers a program of loan insurance to expand homeownership opportunities. FHA provides mortgage insurance to FHA-approved lenders …

May 28, 2024 · Costs such as homeowner’s insurance, property taxes, and private mortgage insurance are typically added to your monthly mortgage payment, so be sure to include these costs when …

Oct 19, 2023 · Most lenders require you to purchase a lender’s title insurance policy, which protects the amount they lend. You may want to buy an owner’s title insurance policy, which can help protect your …

Aug 8, 2024 · When you have a mortgage, your lender wants to make sure your property is protected by insurance. That’s why lenders generally require proof that you have homeowner’s insurance.

Sep 11, 2024 · Many lenders require that you pay your taxes and insurance using escrow, so they can make sure that the bill gets paid. Your mortgage servicer will manage the escrow account and pay …

Sep 13, 2024 · Lender’s title insurance is usually required to get a mortgage loan. Lender’s title insurance protects your lender against problems with the title to your property—for example, if …

Dec 18, 2024 · Your mortgage lender is the financial institution that originally loaned you the money. Your mortgage servicer is the company that sends you your mortgage statements and handles the …