Mortgage insurance is a part of buying a home but it can all be a little confusing, which is why we have provided some easy to follow information for you. Lender Paid Mortgage Insurance Also called LPMI, this type of insurance is when the lender buys the mortgage insurance and then pays the premiums to the insurer. However, the lender increases the interest rate to pay the premiums. However, LPMI can also reduce settlement costs. Private and Government Insurance If your mortgage is backed by the government, that means the Federal Housing Administration or FHA, Department of Veterans Affairs or … Continue reading →