A type of insurance that insures the family will not have to move when you pass away

Payable to the beneficiary to protect the home 

Can pay mortgage payments for either a set number of years or mortgage balance in full 

Policy and payments are separate from the mortgage lender

Age & health conditions to qualify 

A type of mortgage insurance that borrowers have to pay when they take out a conventional loan and put down less than 20% for their down payment

Protects mortgage lenders if homeowner is unable to make payments

More affordable for those with high credit scores 

Premiums are paid upfront or included in your mortgage payments

Increases the cost of your loan over time