What is private mortgage insurance (PMI)?

Private mortgage insurance (PMI) is a type of insurance that protects the lender in the event a borrower defaults on their loan. PMI is usually required on most conventional mortgages when the down payment is less than 20% of the home's purchase price.

For additional information and questions, contact our insurance department at 800-365-7772. Our hours of operation are Monday through Friday 7 a.m. to 8 p.m. CT. We accept relay calls.

Mortgage FAQ