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Solution home Republic Bank Lending Mortgage Insurance

What's mortgage insurance premium (MIP) and private mortgage insurance (PMI)? Print

Modified on: Fri, 23 Jun, 2023 at 3:36 PM


MIP and PMI are 2 types of mortgage insurance. They add a premium to your monthly mortgage payment but allow you to borrow a larger percentage of your home's value. The type of mortgage insurance you have depends on the type of loan you have. Learn more about how mortgage insurance works.



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