Mortgage insurance is a financial product designed to protect lenders against the risk of borrower default on mortgage loans.

Mortgage insurance can be provided by private insurance companies or government entities  

Mortgage insurance remains in effect until the borrower reaches a certain level of equity in the home 

mortgage insurance enables lenders to offer loans with lower down payment requirements 

mortgage insurance policies may offer a refund of a portion of the premium  

Mortgage insurance serves as a risk mitigation tool for lenders  

Mortgage insurance encourages lenders to extend credit to borrowers with smaller down payments.

Mortgage insurance allows borrowers to preserve their equity by purchasing a home with a smaller down payment 

Mortgage insurance is a requirement for certain loan programs, such as FHA loans.