Mortgage Investors Group

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6601 Kingston Pike
Knoxville, Tennessee 37919

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Mortgage Insurance

Mortgage insurance is designed to protect us against loss in the event that you default on your loan. When a borrower defaults and we take a title, mortgage insurance reduces or eliminates their costs. In many cases, mortgage insurance is required on loans if the down payment is less than 20 percent.

There are many types of mortgage insurance. The most common is called private mortgage insurance, or PMI, and it is required on most conventional loans when the down payment is less than 20 percent. FHA loans also have mortgage insurance in the form of an annual premium (charged monthly and added to the mortgage payment) and an upfront premium.

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Mortgage Investors Group's
6601 Kingston Pike
Knoxville, TN 37919