What is PMI mortgage insurance?

Real EstateWarren TeamPublished April 25, 2026

Quick answer

PMI is private mortgage insurance, extra monthly cost (typically 0.5–1.5% of loan annually) on conventional loans with less than 20% down. It protects the lender, not you. Automatically removed at 22% equity.

PMI cost typically 0.5-1.5% of loan annually.

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