What benefits do I receive from mortgage insurance (MI) on a traditional residential real estate fir - ANDREWS MORTGAGE OF OCALA FLORIDA

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What benefits do I receive from mortgage insurance (MI) on a traditional residential real estate fir

Prior to the existence of mortgage insurance, individuals typically could not purchase a home unless they had a down payment of at least 20% of the purchase price. Mortgage insurance benefits the mortgage lender directly by reducing the costs associated with borrower default. It also benefits consumers by lowering down payments, thereby allowing more people to achieve homeownership.