Back to Glossary
Lender-Paid Mortgage Insurance
January 19, 2023
LPMI, or lender-paid mortgage insurance, refers to a situation in which your mortgage lender pays for your mortgage insurance. While there are various ways to pay for mortgage insurance, the most typical is a monthly charge added to your mortgage payment. Lender-paid mortgage insurance incorporates the cost of insurance coverage into the mortgage rate. In essence, instead of a more outstanding monthly mortgage payment, you'll pay a higher interest rate.
Related Topics
10 Best Home Builders in Nashville, TN: Find Your Dream Home Today
Wesley Mortgage 2023 Year-In-Review
What Is a Property Tax Lien
What Is an Adjustable Rate Mortgage (ARM)?
Navigating the Process of Mortgage Modification
What Is Non-Recourse Lending?
What Is a Short Sale?
When Is the First Mortgage Payment Due?